Several companies have made known their interest in the popular TV streaming service Hulu. Now another major contender enters the ring as reports indicate Apple could be interested in bidding for the company, according to Bloomberg.
Apple has made a point of not spending large amounts on mergers and acquisitions, with the $400 million purchase of NeXT Software in 1996 still its largest outright acquisition.
Nevertheless, Bloomberg notes that the company currently has $76.2 billion in cash and securities on hand and has recently shown an increased willingness to spend, with its $2.6 billion investment in Nortel Networks patents and a proposed $3.37 billion bid for InterDigital.
Reuters reports that Hulu also fills several major gaps Apple has been looking to fix, not the least of which being a streaming video service, but also including access to a powerful advertising market.
Still, the news source notes that Hulu also functions in a manner largely contradictory to Apple’s strategy. While Apple creates a strong media platform to push its hardware sales, Hulu thrives through its universality and Apple would likely prefer not to pay for a service available on rival platforms.