Yahoo has withdrawn from the bidding process for Hulu, according to the Wall Street Journal.
The report comes on the tails of Yahoo’s shift of leadership with the firing of former CEO Carol Bartz.
In the meantime, Dish Network, Google and Amazon are all still in the bidding war for the site. Each company has a different offer for the video streaming platform. Amazon hasn’t disclosed its offer, but Dish made a bid worth about $1.9 billion and Google’s offered to pay more than the $1.5 billion-$2 billion range against the rival bids. And, Google wants the company to agree to undisclosed specific conditions, according to WSJ.
The report claims each bid for the service offers a value on the company that takes into account long-term agreements with television partners for putting content online. In the next couple of weeks, the auction deadline for the video streaming platform will come to an end.
Added to the news is Hulu owners News Corp., Walt Disney Co., Comcast/NBCUniversal and private equity firm Providence Equity Partners are actually on the fence on whether they should sell or not sell the company. I don’t blame them, truthfully. Social media is a volatile commodity, and video streaming is becoming more and more popular according to several projections – such as Nielsen’s reports.
If the group decides to sell, it will be a decision that will be made by the board in the next few weeks.
Interestingly, Yahoo started the bidding process in the first place, and is now completely out of the picture because of recent strategic reviews. I sure would like to know what Yahoo plans are for its future.