Vivendi in talks to buy Orange’s Dailymotion
Vivendi has entered into exclusive talks to acquire 80% of Orange’s Dailymotion for €217 million.
Under the offer, Orange will retain the remaining 20% stake in the video-streaming website when terms of the deal are finalised.
Orange said the deal would give Dailymotion “the means to accelerate its growth and to turn it into one of the world’s largest content distribution platforms”. The operator has been looking for a partner to help the expansion of Dailymotion in order to compete with rivals such as YouTube.
The acquisition also marks a first step in Vivendi’s ambition to create a global group that is focused on media and content, said its chairman Vincent Bolloré.
“The acquisition of 80% of Dailymotion’s capital is an excellent opportunity that will provide the group with added reach in the diffusion of high-quality musical and audiovisual content across the world,” said Bolloré. “We are particularly enthusiastic at the idea of supporting Dailymotion in this important new phase of their development as the company evolves into a reference global platform.”
The negotiations come after news that Hong Kong’s PCCW Global had ended talks with Orange about purchasing Dailymotion, days after the French government reportedly intervened to seek alternative partners.