Report: Yahoo bids for online TV site Hulu
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Los Angeles - Days after buying social network Tumblr for more than 1 billion dollars, struggling internet giant Yahoo is eyeing another major purchase.
According to the Los Angeles Times on Friday, the web portal has submitted a bid for online TV service Hulu, which is seeking 1 billion dollars.
The service streams a wide range of TV shows to millions of users, with revenue from advertising and a monthly subscription service that grants access to shows and episodes that are not available for free.
The company has revenues of almost 700 million dollars and 4 million paying subscribers, and could give Yahoo a potential rival to YouTube and another source of advertising revenue.
Yahoo faces potential competition in bidding for Hulu from a number of private equity groups and Time Warner, according to the report.//DPA
