Yahoo looking to buy YouTube content provider for $312 million: Sky News

Yahoo looking to buy YouTube content provider for $312 million: Sky News

Internet giant Yahoo has put in a bid of around US$250 million (S$312.21 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 US$300 million, Sky reported.

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

More about

Purchase this article for republication.

BRANDINSIDER

SPONSORED

Most Read

Your daily good stuff - AsiaOne stories delivered straight to your inbox
By signing up, you agree to our Privacy policy and Terms and Conditions.