Flush with Cash, Apple Discussing Possible Hulu Acquisition: Report

Fresh off a record quarter in earnings and carrying a sizable bankroll, Apple AAPL has joined early talks to bid on video streaming service Hulu, Bloomberg reported Thursday. Citing two people familiar with the matter, Bloomberg reports that Apple has already begun early discussions that could eventually lead to the outright purchase of the video service. Hulu is owned by Walt Disney DIS, News Corporation NWSA, Comcast Corp's CMCSA NBC Universal, and Providence Equity Partners. Undoubtedly, Apple has the financial might to complete a deal. In its most recent quarter, Apple put away $10.4 billion in cash, bringing its total cash and securities to over $75 billion. Speculation has run rampant about what the tech behemoth will do with the extra cash. Hulu is reportedly also in early bid talks with Google GOOG and Microsoft MSFT. Founded in 2007, Hulu is on track to have 1 million paid subscribers by the end of summer. Competing with Netflix and cable, Hulu has found strength in its partnerships with more than 260 content companies. The company earns revenue from its ad-based subscription service, which costs $7.99/ month.