Report: Yahoo Made $250M Bid for YouTube Content Provider

By TechnologyFOXBusiness

Yahoo (NASDAQ:YHOO) has made a $250 million bid for YouTube (NASDAQ:GOOGL) content creator, Fullscreen, Sky News reports. The Chernin Group is also said to be bidding, with AOL (NYSE:AOL) and Comcast (NASDAQ:CMCSA) also considering offers.

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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.