SAN FRANCISCO (Reuters) - Yahoo Inc is in preliminary talks to acquire online video service News Distribution Network for $300 million, according to a report in the Wall Street Journal on Monday.
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 did not immediately respond to requests for comment.
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.
(Corrects headline to change name to News Distribution Network from Network Distribution News)
Reporting by Alexei Oreskovic