NEW YORK (TheStreet) -- Yahoo! is said to be close to buying video streaming start-up RayV in effort to bolster its video service, according to a report by The Wall Street Journal.
Yahoo! (YHOO) is said to be close to buying video streaming start-up RayV, according to a report from The Wall Street Journal.The company is reportedly interested in acquiring RayV to bolster its video service, as the start-up develops software for high definition online video streaming. In addition, RayV offers a content distribution network, a content management system and digital rights management function, according to the Journal. RayV's Web site says it has "developed a unique suite of patented technologies and a new approach to video streaming." It's based in Los Angeles with research and development operations in Tel Aviv. The report comes after Yahoo!'s failed attempts to acquire video site DailyMotion and streaming video site Hulu. The company has been investing in original programming, however. Yahoo! announced in April that it has two new comedies in the works, set to air next year on Yahoo's Screen apps for desktop, mobile, Apple (AAPL) TV and Roku. And starting this summer, the Screen app will feature one concert every day on its new Live Nation Channel as well. As of now, there is no confirmation of the deal or what the sale price might be.
In New York, I'm Brittany Umar for TheStreet. -- Written by Brittany Umar in New York.