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[AugustaFriends]

HULU - The Wall Street Journal posted an article late Tuesday saying Hulu had received a bid, but the potential buyer wasn't named. The Los Angeles Times followed up with a piece naming Yahoo (YHOO, Fortune 500) as the bidder, though TechCrunch said one of its sources close to Yahoo deemed that report "completely untrue."

A Yahoo spokeswoman said the company doesn't comment on "rumor or speculation." News Corp. declined to comment, and the other owners did not respond to requests for comment. Hulu also did not respond.

If a buyout is in the works, it could be a comparatively easy exit strategy for Hulu and its diverse collection of owners. Hulu reportedly abandoned its plans for an IPO last year because it wasn't able to secure long-term deals with content providers.

While those content deals have been elusive for Hulu and its competitors, including Netflix (NFLX), the company has nonetheless touted some strong financials.

In an April blog post, Hulu CEO Jason Kilar shone some light on the company's financials. Hulu's revenue is on track to hit $500 million this year, up from $263 million in 2010, he said.

But he said nothing about profitability. Hulu bears some heavy licensing costs for its content: Kilar said the "content community" -- meaning the owners of the shows Hulu streams -- are on pace to earn $300 million this year through Hulu.