AT&T May Bid On Hulu, Join With Chernin Group
Mobile giant AT&T Corp. (NYSE:T) is reportedly in discussions with the Chernin Group to join in a bid to purchase online video and TV server Hulu. The Chernin Group, a relatively young media investment and management company, already holds stakes in other Internet monoliths including Pandora, Tumblr and mobile app Flipboard. In April, Chernin Group CEO Peter Chernin announced the company would bid to buy Hulu’s premium video service.
According to tech blog All Things Digital, anonymous sources “close to the telecommunications giant” say they are in talks with Chernin to mount a joint bid. Other bidders in the competition for Hulu include Yahoo (NASDAQ:YHOO), DirectTV (NYSE:DTV), Time Warner Cable (NYSE:TWC) and Guggenehim Partners. All Things Digital reports that Chernin initially offered a bid of $500 million and is expected to go much higher.
© Copyright IBTimes 2024. All rights reserved.
-
Top Philadelphia Official Issues Powerful Warning To Election Day Troublemakers: 'Eff Around And Find Out'
-
North Korea Fires Short-range Ballistic Missile Salvo Ahead Of US Election
-
Win The Vote But Still Lose? Behold America's Electoral College
-
From Abortion To Bobcat Hunting: US Vote Not Just For President
-
Thousands Protest Alleged Election Fraud In Georgia
-
US Fines Chipmaker $500,000 For Selling To Blacklisted Chinese Company
-
Ikea Paying $6.5 Million To East German Prisoners Forced To Make Their Furniture
-
Speaker Mike Johnson Again Opens Door Wide Open To Blocking A Harris Victory
-
Rivals Race To Tape As US Election Heads To Photo Finish
-
Officials Stepping Up Security For Election Workers Amid Ongoing Threats: Report
