Yahoo Inc (NASDAQ: YHOO) is in preliminary talks to acquire online video service News Distribution Network for $300 million U.S., according to a report in Monday’s Wall Street Journal.
The deal could further Yahoo's efforts to bolster its online video programming and video advertising revenue, according to the report, which cited anonymous sources. NDN is a video syndication service that works with newspapers and other online publishers.
Yahoo initially had no comment on the report.
NDN spokeswoman Krystal Olivieri was quoted in the Wall Street Journal story as stating that the company was not in talks to be acquired by Yahoo. Reached by phone on Monday, Olivieri declined to comment.
Yahoo began trading Tuesday morning at $36.45 U.S., up 55 cents, or 1.5% from Monday’s close and within a 52-week range of $22.70 to $41.72 U.S.
