Yahoo! Inc. (YHOO) rumored to be acquiring Fullscreen for $250 million
Yahoo! Inc. (NASDAQ:YHOO) may be spending around $250 million to acquire Fullscreen, a company that creates content on YouTube.
Yahoo! would be able to reach a younger audience through the acquisition of Fullscreen. Fullscreen generates over 3 billion monthly views. Yahoo! is facing competition from The Chernin Group, according to Sky News.
The Chernin Group is already a shareholder in Fullscreen after it acquired a take in June late last year. The Chernin Group is owned by former News Corp. executive Peter Chernin. It is believed that The Chernin Group has the right to buy Fullscreen at a previously agreed price if other bidders do not offer at least $300 million.