Courtesy of Benzinga.
Yahoo (NASDAQ: YHOO) is finally stepping up its game and according to the Wall Street Journal is in preliminary talks to acquire online-video service News Distribution Network Inc.
This acquisition would enable Yahoo Inc. to compete with Google’s (NASDAQ: GOOG) YouTube, a service that has cost Yahoo Inc. billions of dollars in ad revenue.
According to the Wall Street Journal, Yahoo could pay 300 million for NDN, and it still possible that a deal might not even be reached.
Purchasing NDN would enable Yahoo to reach millions of users as NDN is a video syndication service that supplies newspapers and provides content online.
Last year, Yahoo acquired Tumblr for $1.1 billion, and since Marissa Mayer took over, the company has been known for purchasing tech startups.
Another notable example would be Hulu, which Yahoo bid for, unfortunately the owners of the technology company decided not to sell it after an offer had been made.
Shares of Yahoo were flat today and have been on a roller coaster this past year ranging from $22.70 to $41.72 per share; shares are currently at $35.90.
Posted-In: Hulu News Distribution Network Inc Tumblr YouTubeNews Rumors
