June 26 (Reuters) - Internet giant Yahoo has put ina bid of around $250 million to buy Fullscreen, a company whichcreates content for YouTube channels, Britain's Sky Newsreported on Thursday.
Yahoo is looking to expand its reach to young consumersthrough the acquisition of the company, which generates morethan 3 billion monthly views on Google Inc's YouTube.
Yahoo faces competition from private investment firm Cherninfor control of the California-based company, Sky quoted insidersas saying.
Chernin is already a shareholder in Fullscreen, havingbought a stake in June last year along with the world's largestadvertising group, WPP and Comcast Ventures.
Chernin, owned by former News Corp executive Peter Chernin,is understood to have the right to buy Fullscreen at apreviously-agreed price if other bidders do not offer at least$300 million, Sky reported.
Fullscreen was founded in 2011 by George Strompolos, aformer Google executive. (Reporting by Tasim Zahid in Bangalore, editing by David Evans)