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Orange, Vivendi enter exclusive talks for 80% of Dailymotion
2015-04-07 20:51:00| Telecompaper Headlines
(Telecompaper) Orange and Vivendi have entered into exclusive negotiations regarding Vivendi's acquisition of 80 percent of video portal Dailymotion for EUR 217 million, corresponding to a EUR 265 million enterprise value for Dailymotion. Orange will keep 20 percent in the company. For Orange, which has accompanied the successful development of Dailymotion since 2011, this operation meets the group's ambition to bring Dailymotion together with a strategic content-focused partner that is capable of giving it the means to accelerate its growth and to turn it into one of the world's largest content distribution platforms. The operator will use its 20 percent holding to accelerate Dailymotion's international growth and to enhance its content offer. Orange will use the proceeds of this transaction to finance and reinforce its efforts in the digital ecosystem. For Vivendi, the acquisition of 80 percent of Dailymotion represents an important step forward in its effort to create a global group and French champion in the media and content industries.
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Category:Telecommunications