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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, including Yahoo and Time Warner Cable. Many of those companies have already reportedly put in bids. 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.