US pay TV provider DirecTV is one of three bidders offering upwards of US$1 billion to acquire US video-on-demand site Hulu, according to US reports.
Bloomberg and Reuters both reported the news, citing unnamed sources, claiming that the three US$1 billion-plus offers made it likely that Hulu owners News Corp, Disney and Comcast will reach a sale agreement.
Though it was not clear who the other two more-than-US$1 billion bidders are, both news outlets said Hulu had received at least seven bids in total and would narrow these down in the coming weeks.
The other firms reported to have put in offers for the VOD site are Yahoo!, Time Warner Cable and investment firm the Chernin Group – run by former News Corp president and chief operating officer Peter Chernin.
Private equity firms KKR, Guggenheim Partners through its Guggenheim Digital arm, and Silver Lake Partners in conjunction with Hollywood talent agency WME are all also said to have tabled bids.
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18 June 2018 @ 11:08:55 UTC