AT&T (T), Chernin Could Partner in Bid for Hulu (NFLX) (DIS) (CMCSA)

AT&T (NYSE: T) is said to be mulling a joint bid for Hulu with Chernin Group.

The news, issued by AllThingsD on Wednesday night, brings yet another major tech giant into the bidding war ring. Expected to draw a bid of $1 billion or more, companies like DirecTV (Nasdaqq: DTV), Time Warner Cable (NYSE: TWC), and Yahoo! (Nasdaq: YHOO), are all said to be taking a hard look at the streaming content provider.

ATD noted that Chermin was founded by Peter Chermin, former COO of News Corp (Nasdaq: NWSA), which, along with Disney (NYSE: DIS) and Comcast (Nasdaq: CMCSA), owns a part of Hulu. Chermin is said to have "intimate knowledge" of Hulu and placed an initial bid of $500 million for the streaming video company. Partnering with AT&T could markedly increase Chermin's firing power.

Along with the aforementioned companies, Netflix (Nasdaq: NFLX) is on watch today. Richer or softer bids for Hulu might give the market a new idea of what Netflix might actually be valued at.

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