Yahoo is added to the list of the bidders for online video site Hulu, joining pay TV operators DirecTV, Time Warner Cable and seven other bidders, according to reports. Both Reuters and AP on Friday cited anonymous sources to report Yahoo's bid for Hulu, which could be worth as much as $1 billion to $2 billion. Rival bidders for Hulu include Time Warner Cable Inc, DirecTV, former News Corp president Peter Chernin and Guggenheim Digital Media, sources have said.

Earlier this week Yahoo announced a $1.1 billion acquisition of blogging service Tumblr.

Hulu streams TV shows online in similar fashion to Netflix. The service offers free viewing of recent episodes of broadcast network shows like ABC's "Modern Family" or NBC's "Saturday Night Live" with ads, but those episodes are also available elsewhere, such as on the networks' own websites. The paid version, called Hulu Plus, provides access to a deeper catalog and allows viewing on mobile devices and Internet-connected TVs, but several networks including ABC and NBC have developed apps that allow full episode viewing on mobile devices for free.