DirecTV has reportedly bid $1 billion for Hulu

DirecTV reportedly offers $1 billion to buy next-day TV streaming service Hulu

By: Trace Hagan | Business, Financial & Legal News | Posted: May 31, 2013 11:32 pm

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Next-day TV streaming provider Hulu has been seeking a buyer. Reports of several interested companies have popped up over the past week or two and now DirectTV has reportedly offered $1 billion for the company. DirecTV would be competing with Yahoo, Time Warner Cable, and possibly others for the company.

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Bloomberg reports that there are at least two other unknown companies that have offered at least $1 billion for Hulu. Hulu's board of directors are reportedly entertaining at least seven buyout offers. They plan to narrow their focus to three of four offers in a few weeks.

DirectTV's stock has fallen 3 percent to $61.19 on the news.

NEWS SOURCES:Bloomberg.com