Hulu – an online video service – is recently getting attention of huge lot of subscribers for their quality service and content variety. Hulu’s growing business and capability to compete directly with Netflix have attracted web giants like Google, Amazon and Microsoft for acquisition. Now, Apple too is lined up with others to bid for Hulu and competition is rising.
Apple Inc., with $76.2 billion in cash and securities on its books, is in early talks that may lead to an offer for Hulu, said the people, who weren’t authorized to speak publicly.
Hulu can provide streaming video services to Apple which could be used in iTunes store. Hulu can be a possible threat to Netflix which is current leader in the video services industry. Apple Chief Financial Officer Peter Oppenheimer responded, saying that the selection of movies and TV shows was “very, very broad,” especially in the U.S., and that the company was adding more in other countries each quarter.
Hulu’s current owners–Walt Disney, News Corp., Comcast, and equity firm Providence Equity Partners–have reportedly attracted a slew of interest from potential buyers since they put the company up for sale last month.