Yahoo looking to buy YouTube content provider for $313.1m
Published on Jun 27, 2014 7:54 AM
(REUTERS) - Internet giant Yahoo has put in a bid of around US$250 million (S$313.1 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.
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