The day wouldn't be over without a rumor about Apple and today is no exception. It's been said that Apple with $76.2 billion cash & securities on its books is planning to make a bid for the online video streaming service, Hulu.
Apple Inc., with $76.2 billion in cash and securities on its books, is considering making a bid for the Hulu online video service, two people with knowledge of the auction said.
Hulu is owned by NBCUniveral, Fox Entertainment, Disney-ABC TV Group, and Providence Equity Partners. They offer films and shows in non-HD and HD formats via flash video format on its web site.
Hulu would give Apple a new subscription service and represent a possible challenge to Netflix Inc. Hulu’s media- company owners, Walt Disney Co., News Corp. and Comcast Corp.’s NBC Universal, are offering suitors a five-year extension of program rights, including two years of exclusive access, people familiar with the matter said earlier this week.
Instead of a subscription, Apple’s iTunes media store offers TV shows and movies for rental or purchase. Current- season shows can be rented for 99 cents and high-definition films rent for $4.99. Hulu, which inserts ads into programs, offers limited free episodes and more expansive access with Hulu Plus for $7.99 a month.
If sold, Hulu would retain its exclusive content licenses from current owners Disney (where Steve Jobs is a major shareholder and sits on the board) FOX/News Corp., and Comcast/NBC.
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