As Hulu executives determine the proper direction for the future of their company, the firm that was first to show interest in acquiring the streaming-video provider has withdrawn from the race, a new report claims.
Currently, Hulu’s board of directors is mulling bids from Dish Network, Amazon, and Google, The Wall Street Journal is reporting, citing anonymous sources. However, Yahoo, which first met with Hulu to discuss a possible acquisition, has backed out of trying to acquire the firm as it prepares to potentially sell off its own company.
With Yahoo out of the way, it appears Dish Network is now the new front-runner to acquire the streaming-video service, the Journal is reporting. The company initially offered $1.9 billion for Hulu, according to the Journal, but has asked Hulu to change its bid. Google, on the other hand, is willing to pay more than $2 billion, but has required Hulu to agree to certain conditions before it can complete the deal, the Journal says.
Talk of Hulu possibly being acquired kicked off earlier this year, when Yahoo reportedly approach the company about a possible buy. Although neither company confirmed it at the time, reports suggested Yahoo was willing to pay Hulu $2 billion, as long as the deal came with up to five years of exclusive access to current television shows.