Apple Looks to Buy Hulu
According to insiders, Apple has approach Hulu and has expressed interest in buying the online video streaming company to add to its growing list of services. With almost $80 billion in cash, Apple can easily afford to make a few purchases and it seems that Hulu is at the top of their purchase list.
According to Bloomberg, “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."
Apple’s representative would not answer questions about the possibility, but did say that apple was always “looking at opportunities to expand and provide more services” and that there would always be “exciting things happening at Apple and… to pay attention.” Apple’s Chief Financial Officer Peter Oppenheimer echoed this, saying that "we have some neat stuff coming."
Experts are saying that the purchase of Hulu would make perfect sense, since Apple already has a significant infrastructure in place, and as a service of iTunes would easily position Apple as the dominate player in paid streaming media online.
A bunch of other companies including Microsoft, Amazon and even Yahoo have expressed interest in Hulu. Yahoo has already offered $2B in cash, but a deal seems stuck on issues of exclusive access to current TV shows on the air by Hulu’s current network owners.