Google has been mentioned as a possible suitor for a Hulu acquisition for a while now. In light of recent developments, it would still make sense.
For example, recent reports indicate that Google is spending about $100 million to develop new, original content. Google is serious about making YouTube a cable competitor (let's hope they don't' start charging for YouTube in general). YouTube is expected to get a redesign with a more TV channel-like flavor. They've recently expanded their paid movie offerings, to include new releases, and continue to expand that offering internationally.
TV and movie content from Hulu makes sense.
According to a report from the Wall Street Journal, Google (along with DISH and Amazon) are still in the running for an acquisition of Hulu, and Yahoo, which has been in the running, is now out.
The Yahoo news is interesting in itself, given a couple of things:
1. Yahoo is been doing a lot to brand itself as a media company as of late.
2. Other rumors are going around that Microsoft is considering a bid for Yahoo, which still doesn't have a CEO, beyond interim CEO Tim Morse.
As a media company, it could do Yahoo well to have what Hulu has to offer, but perhaps the future of Yahoo itself is just too uncertain.
While a Hulu acquisition would make a great deal of sense for Google, it would also make a great deal of sense for DISH or Amazon, both of which have scaled up their streaming video offerings of late.