Hulu must be one happy company at the moment – all the big names like Yahoo, Amazon, the Dish Network, and Google have placed an offer to buy out the company, so the bidding war has begun.
While most of the bidders placed a bid in the range of $1.5 to $2 billion, rumor has it that Google is so keen to purchase the company that it will make an over-the-top offer to out-do its competitors, especially Yahoo, who was the first company to show interest in buying Hulu.
Exact details on Google’s offer amount haven’t been released yet, but it’s interesting to hear that it is willing to splash more cash, when it just purchased Motorola last month for a whooping $12 billion.
So what is it about Hulu that has attracted so many big names?
Well with this purchase comes Hulu’s video website and subscription service, along with two years of exclusive rights to their content. Currently, the site is a joint venture between NBCUniversal, Fox Entertainment Group and Disney-ABC Television Group, who collectively supply the lion’s share of the site’s content.
Google is very interested in the site’s content licensing agreements, which YouTube doesn’t have. This would give Google the opportunity to revamp Google TV which has met a lot of resistance from content providers who blocked their content from Google TV-powered devices.
While it’s not certain that Hulu will sell, Google’s highly ambitious bid is sure to make its owners think long and hard about the opportunity.
So where does this leave Yahoo? The company will have to dig deeper into its pockets to find the “spare change” it needs to compete with Google, if it wants any chance of securing Hulu.