updated 02:58 pm EDT, Sat May 25, 2013
Web giant continues makeover by acquisitions
Yahoo has reportedly entered a bid to buy Internet television service Hulu, according to reports. The web giant submitted a bid for Hulu on Friday, sources tell AllThingsD, though the dollar figure for Yahoo's bid was unknown. Should Yahoo win the bidding process, Hulu would mark the second large acquisition the company has made since CEO Marissa Mayer came to the helm of the firm.
Yahoo joins DirecTV, Time Warner Cable, William Morris Endeavor, KKR, Guggenheim Digital, and The Chernin Group in looking to take control of the web television service. Hulu is immensely popular, but its owners -- News Corp., Disney, and Comcast -- have always been wary of the effect it could have on their traditional television business.
One of the oldest and most popular Internet portals, Yahoo's unique hits range into the hundreds of millions. Still, though, the company is seen to have grown somewhat stale since its heyday. That in mind, Yahoo bought Tumblr, a popular social sharing site, for $1.1 billion this week.