July 22, 2011

Is Apple Eyeing Hulu For Video Offerings?

With Apple sitting on over $76 million in cash in the bank, there is no end to the number of ideas that tech pundits are suggesting that the gadget powerhouse might spend it on, Reuters is reporting.

Apple, meanwhile, has remained tight-lipped, as usual, about its future plans but has hinted that more content is coming to Apple's iTunes catalog.

However, it has been noticed that Apple has been in talks with Hulu, which has been searching for a buyer.

Hulu's subscription service would instantly bolster its offerings and let it mount a greater challenge to Netflix and Amazon. Apple has long said to be working on its own subscription video service, but that has yet to come to fruition.

"Part of the ecosystem of Apple's future is to include more video," said Scott Sutherland, Wedbush Securities Inc. analyst. "It's something they are focused on," Bloomberg reports.

Apple CFO Peter Oppenheimer responding to questions of Apple's video offerings, explained that the selection of movies and TV shows was "very, very broad," especially in the US, and that the company was adding more in other countries each quarter.

"Look for some more content later this quarter across the various stores," Oppenheimer said. "We have some neat stuff coming."

Hulu's current owners have reportedly attracted a slew of interest from potential buyers since they put the company up for sale last month with Yahoo reportedly offered to pay up to $2 billion to acquire Hulu, CNET reports.

However, Hulu's owners have reportedly been willing to offer the five years of access but only two years of exclusivity.


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