toggle

AAPL Stock: 122.37 ( -0.62 )

Printed from http://www.macnn.com

Korea's SK Telecom may join in on Hulu bidding

updated 12:25 pm EDT, Wed August 24, 2011

SK Telecom to bid on Hulu later this week

South Korean wireless provider SK Telecom is expected to join the Hulu bidding with its own offer later this week, a source told SAI. It will be one of a few, though the others haven't been named. Hulu sent out a letter to all interested parties, asking them to send a non-binding expression of interest that includes what their bid range is once they do their due diligence of the company's finances, the source said.

SK Telecom is looking to expand internationally, but hasn't yet been successful in doing so. Back in March, SK considered buying Blockbuster to enter the US video market, but nothing came of it.

Hulu's value is dictated by what kind of content licensing deal it can get with current parent companies including News Corp, Disney and Comcast. Hulu stated in the letter that this would include exclusive PC streaming rights for three years and one-year exclusivity for Hulu Plus. The letter suggested these are the bare minimums, however.

Earlier reports had bids floating around the $1.5 billion mark, but the winning bid is expected to be closer to $2 billion.




by MacNN Staff

toggle

Comments

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

Follow us on Facebook

toggle

Most Popular

Advertisement

Recent Reviews

HP 14-x030nr 14-inch Chromebook

If you're like us, chances are you've come to realize that you need the ability to access the Internet on the go. Also, you've prob ...

15-inch MacBook Pro with Force Touch

Apple's 15-inch Retina MacBook Pro continues to be a popular notebook with professional users and prosumers looking for the ultimate ...

Typo keyboard for iPad

Following numerous legal shenanigans between Typo -- a company founded in part by Ryan Seacrest -- and the clear object of his physica ...

toggle

Most Commented