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Yahoo Drops Out of Hulu Sweepstakes (Report)

Google, Amazon and Dish Network remain in the hunt

Yahoo has abandoned its bid to purchase Hulu, the online streaming site owned by a consortium of Hollywood conglomerates, according to a report in the Wall Street Journal.

Yahoo was one of the four main bidders along with Dish Network, Google and Amazon, and the remaining three are still believed to be interested in acquiring Hulu.

As TheWrap reported previously, second round bids were due last week, and Yahoo was considered unlikely to continue bidding since the portal is itself up for sale.

Also read: New Hulu Bids Due This Week, But Sale Probability Wanes

Google and Dish put in the largest bids, with Amazon and Yahoo trailing behind. Dish's bid of $1.9 billion is believed to be of the most interest to the sellers, though insiders say it seems possible that at the end of the process there is no sale at all.

Earlier this summer, Hulu was put up for sale by co-owners Comcast, News Corp., Walt Disney Co. and Providence Equity after receiving an unsolicited takeover overture.

Hulu offers streaming of TV shows, movies, webisodes and other online media either for free with ads, or for a fee on Hulu Plus. Hulu Plus still has ads, but offers more content.