Apple is in the early stages of considering a purchase of online video site Hulu, LLC according to reports on Friday.

Two people with knowledge of the auction, who weren't authorized to speak publicly told Bloomberg of the possible bid.

Apple is in early talks that may lead to an offer, said the people.

The Wall Street Journal also confirmed that Apple is in the preliminary stages of looking at the site.

Shares of Apple rose 1.55 percent to close at $393.30 on the Nasdaq stock market.

Hulu, founded in 2007 and based in Los Angeles, operates a video website that includes content from more than 260 providers. The company's owners include NBCUniversal, News Corp, and Disney, as well as private equity investor Providence Equity Partners.

Disney CEO Robert Iger said earlier this month the owners were looking to sell the site, noting that the timing of the sale was not as important as getting the right price for it.

I don't think it matters to us, we just need to get the best value, he told Reuters.

Hulu carries programming from ABC, NBC, and Fox, among others. Content includes television programs and movies. It works through an advertising-supported model. For a subscription, users can get access to a wider array of video content than non-paying users.

The company, which has about 300 employees, has positioned itself as being focused on the quality and convenience of the user experience for online video watching.

Hulu's board of directors includes:

Al Dobron, Providence Equity Partners

Anne Sweeney, Disney

Chase Carey, News Corp

Jason Kilar, Hulu

Jim Gianopulos, Fox

Jonathan Miller, News Corp

Jonathan Nelson, Providence Equity Partners

Kevin Mayer, Disney

Robert Iger, Disney