Google has begun initial talks to buy Hulu–a pioneer in online video broadcast. Other initial prospects include Microsoft Corp. and Yahoo, as Hulu tries to drum up interest in a sale.  Yahoo made an initial overture, which got the video company excited.

Hulu’s financial supporters are Morgan Stanley and Guggenheim Partners, which have set up meetings with media, technology and communications companies.

Online video is hugely popular and the interest is only growing as it displaces traditional TV and DVD. Google has been pushing to increase the amount of professional quality video and programming within it’s network on Youtube–understanding the incredible pull to advertisers.