Rumor has it Yahoo wants to take on YouTube with a new video-hosting website of its own, and now it looks like the company is offering to pay some of Google’s biggest content creators to jump ship. A new report from Reuters claims Yahoo has offered $250 million to buy Fullscreen, an independent company that brings in over three billion YouTube views per month. Fullscreen isn’t a single YouTube channel, instead it bills itself as a global network of content creators and brands. The company helps supply smaller video-makers with top-notch technology, services and advice. It would definitely give Yahoo a huge edge to have this online video powerhouse in its corner, though there’s still no guarantee Fullscreen will take its $250 million offer.
Internet giant Yahoo has put in a bid of around $250 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. Chernin, owned by former News Corp executive Peter Chernin, is understood to have the right to buy Fullscreen at a previously-agreed price if other bidders do not offer at least $300 million, Sky reported. Fullscreen was founded in 2011 by George Strompolos, a former Google executive.