AT&T in talks to acquire Hulu with Chernin Group -- report
Teaming with the Chernin Group gives AT&T some extra leverage in a battle against Time Warner Cable, Yahoo, and others.
AT&T is considering working with the Chernin Group to make a joint bid for Hulu, according to a new report.
The telecommunications company and Chernin Group, which is led by former News Corp. President Peter Chernin, have not yet placed a bid, according to All Things Digital, citing sources who claim to have knowledge of their plans. Still, it's possible that if AT&T and Chernin Group come together, they could make a stronger bid than the reported sub-$500 million offer Chernin already put up for Hulu.
Several companies are reportedly trying to get their hands on the streaming-video site, includingand Time Warner Cable. Many of those companies have . However, All Things Digital's sources say that Hulu's owners, News Corp., Disney, and Comcast, might decide to hold on to the site if they can't get more than $1 billion on the deal.
It's not clear what AT&T has planned for Hulu, but the company is competing in the TV space already. Hulu could help bolster those efforts.
AT&T declined CNET's request for comment on the report.