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Saturday, July 23, 2011

TECH NEWS: Apple to Consider a Bid for Hulu!


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By Andy Fixmer and Adam Satariano / bloomberg.com- Jul 23, 2011 1:42 AM GMT+0530.

Apple Is Said to Consider Bidding for Hulu Online TV Service
A man walks by a display of iPhones at an Apple Store on July 19, 2011 in San Francisco. Photographer: Justin Sullivan/Getty Images.

Apple Inc. (AAPL), 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.
Apple, the world’s second-most-valuable company, is in early talks that may lead to an offer for Hulu, said the people, who weren’t authorized to speak publicly.
Hulu would give Apple a new subscription service and represent a possible challenge to Netflix Inc. (NFLX) Hulu’s media- company owners, Walt Disney Co. (DIS)News Corp. (NWSA) and Comcast Corp. (CMCSA)’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.
“Part of the ecosystem of Apple’s future is to include more video,” saidScott Sutherland, Wedbush Securities Inc. analyst in San Francisco who recommends buying the stock. “It’s something they are focused on.”
Meredith Kendall, a spokeswoman for Los Angeles-based Hulu, declined to comment, as did Tom Neumayr, a spokesman for Cupertino, California-based Apple.
Hulu’s price tag could exceed $2 billion, according to data compiled by Bloomberg and SNL Kagan.
Apple typically doesn’t make large acquisitions, Sutherland said in an interview. Its biggest purchase of a company was the $400 million spent for NeXT Software Inc., the 1996 deal that returned Steve Jobs to the company, according to Bloomberg data.

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