Update: Apple Considering a Bid for Hulu Video Service
By Rob Scott
July 22, 2011
July 22, 2011
- In the latest installment of the ongoing Hulu saga, Bloomberg reports Apple is “considering making a bid” for the online video service.
- Apple would join Google, Yahoo, AT&T and others who have expressed interest (Microsoft has reportedly dropped out of the bidding).
- With $76 billion in cash and securities, an expected $2 billion bid would not be too difficult for Apple. If so, analysts suggest this would give Apple a leading subscription service that would rival, if not surpass, the Netflix service.
- “Part of the ecosystem of Apple’s future is to include more video,” said Scott Sutherland, Wedbush Securities analyst (who recommends buying the stock). “It’s something they are focused on.”
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