Published June 26, 2014
Yahoo (YHOO) has made a $250 million bid for YouTube (GOOGL) content creator, Fullscreen, Sky News reports. The Chernin Group is also said to be bidding, with AOL (AOL) and Comcast (CMCSA) also considering offers.
Fullscreen creates content for thousands of YouTube video channels and generates over 3 billion monthly video views. The film, music and tech media is said to attract a young audience.
Founded in 2011, the startup is based in Culver City, Calif. The company has received $30 million in funding from Comcast, The Chernin Group, WPP Digital and SV Angel. The Chernin Group is said to have the option to acquire Fullscreen at a pre-determined price if the startup does not receive an offer that exceeds $300 million.
Sky News reports Fullscreen has struggled to become profitable. The start up is owned by George Strompolos, who previously worked at YouTube.