Yahoo looking to buy YouTube content provider for $250 million - Sky News

Fri Jun 27, 2014 1:35am IST

A Yahoo logo is pictured in front of a building in Rolle, 30 km (19 miles) east of Geneva, in this file picture taken December 12, 2012.   REUTERS/Denis Balibouse/Files

A Yahoo logo is pictured in front of a building in Rolle, 30 km (19 miles) east of Geneva, in this file picture taken December 12, 2012.

Credit: Reuters/Denis Balibouse/Files

Related Topics

Stocks

   

(Reuters) - Internet giant Yahoo has put in a bid of around $250 million to buy Fullscreen, a company which creates content for YouTube channels, Britain's Sky News reported on Thursday.

Yahoo is looking to expand its reach to young consumers through the acquisition of the company, which generates more than 3 billion monthly views on Google Inc's YouTube.

Yahoo faces competition from private investment firm Chernin for control of the California-based company, Sky quoted insiders as saying.

Chernin is already a shareholder in Fullscreen, having bought a stake in June last year along with the world's largest advertising group, WPP and Comcast Ventures.

Chernin, owned by former News Corp executive Peter Chernin, is understood to have the right to buy Fullscreen at a previously-agreed price if other bidders do not offer at least $300 million, Sky reported.

Fullscreen was founded in 2011 by George Strompolos, a former Google executive.

(Reporting by Tasim Zahid in Bangalore, editing by David Evans)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

APPLE

Reuters Showcase

Online Crackdown

Online Crackdown

China's Tencent shuts messaging accounts after censorship rules - state media.  Full Article 

New iPhone?

New iPhone?

Apple invites media to Sept. 9 event; new iPhones anticipated.  Full Article 

Tracking Heartbeat

Tracking Heartbeat

U.S. startups get OK for smartphone-based heart tracking.  Full Article 

Hi-Tech Watch

Hi-Tech Watch

Samsung unveils smartwatch that can make calls.  Full Article 

Bitcoin Usage

Bitcoin Usage

Bitcoin shows staying power as online merchants chase digital sparkle  Full Article 

Snapdeal Investment

Snapdeal Investment

Ratan Tata invests in online retailer Snapdeal  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage