Yahoo is reportedly planning to acquire a cable-quality shows, as part of strategy to boost its reputation with advertisers. According to a report in the Wall Street Journal, Yahoo is close to ordering four web series, with per-episode budgets ranging from $700,000 to several million dollars.

"They're looking at the same type of shows that Netflix and Amazon are eying," said a WSJ's source.

The Journal says Yahoo CEO Marissa Mayer is looking to show off the new programming to potential advertisers at this year's "NewFront" event on April 28.

The move into original TV is part of a strategy to boost Yahoo's reputation among advertisers.

Yahoo did not provide any comment.