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DirecTV has reportedly bid $1 billion for Hulu

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

@tracehagan
Published Fri, May 31 2013 6:32 PM CDT   |   Updated Tue, Nov 3 2020 12:22 PM CST

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.

DirecTV has reportedly bid $1 billion for Hulu | TweakTown.com

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 SOURCE:bloomberg.com

Trace is a starving college student studying Computer Science. He has a love of the English language and an addiction for new technology and speculation. When he's not writing, studying, or going to class, he can be found on the soccer pitch, both playing and coaching, or on the mountain snowboarding.

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