By Ronald Grover and Greg Roumeliotis LOS ANGELES/NEW YORK (Reuters) - Yahoo Inc has submitted a formal proposal to buy Hulu, joining a growing list of bidders for the video service owned by News Corp and Walt Disney Co, two sources with knowledge of the bid told Reuters on Friday. Yahoo just this week announced a $1.1 billion acquisition of blogging service Tumblr. It now joins rival bidders for Hulu, including Time Warner Cable Inc, DirecTV, former News Corp president Peter Chernin and Guggenheim Digital Media, sources have said. It is unclear how much the Internet company bid. ... more...

(Reuters) - Google Inc intends to finance, build and help operate wireless networks from sub-Saharan Africa to Southeast Asia, hoping to connect a billion or so people in emerging countries to the Internet, the Wall Street Journal reported on Friday. The Internet search giant - which has for years espoused universal Web access - is employing a patchwork quilt of technologies and holding discussions with regulators from South Africa to Kenya, the WSJ cited people familiar with the strategy as saying. ... more...

By Sarah McBride SAN FRANCISCO (Reuters) - Automattic, the company that operates blogging service WordPress.com, announced a $50 million investment from hedge fund and private-equity investor Tiger Global on Friday. The investment comes on the heels of Yahoo's $1.1 billion acquisition of blogging company Tumblr, showing the high prices fast-growing services that targeting Internet users can command. The valuation for Automattic was similar, Fortune reported. A spokeswoman for WordPress declined to comment. WordPress powers the blogs at companies such as CNN. ... more...

Eight years after the debut of the Xbox 360, Microsoft has announced the Xbox One. more...