Apple (AAPL) May Bid for Major Online Movie/TV Streamer

Apple (Nasdaq: AAPL) may be looking to expand its empire of online streaming media, and it may have found it's target to do just that.

According to the Wall Street Journal this morning, Apple may be mulling a bid for online media content provider Hulu.

Investors and traders have been wondering what Apple is planning to do with its $76.2 billion in cash, an amount that would make Scrooge McDuck blush. Gaining an asset like Hulu ahead of a planned Apple TV launch may just be the catalyst many consumers were looking for in considering a move to Apple.

People familiar with the process said that the discussions were in early stages, and may not result in a bid.

Hulu is owned by Disney (NYSE: DIS), Comcast's (Nasdaq: CMCSA) NBCUniversal, News Corp (Nasdaq: NWSA), and Providence Equity Partners.

Competitors also glancing in Hulu's direction include Google (Nasdaq: GOOG) and Yahoo! (Nasdaq: YHOO).

Apple is trading 0.6 percent stronger early Friday.

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