Egypt's FEC, TRAIN partner to support food exporters    Spot Gold, futures slips on Thursday, July 17th    Egypt's EHA, Huawei discuss enhanced digital health    Egypt expresses condolences to Iraq over fire tragedy    Egypt, Oman discuss environmental cooperation    Egypt's Environment Minister attends AMCEN conference in Nairobi    At London 'Egypt Day', Finance Minister outlines pro-investment policies    Sukari Gold Mine showcases successful public–private partnership: Minister of Petroleum    Egypt's FRA chief vows to reform business environment to boost investor confidence    Egyptian, Belarusian officials discuss drug registration, market access    Syria says it will defend its territory after Israeli strikes in Suwayda    Pakistan names Qatari royal as brand ambassador after 'Killer Mountain' climb    Health Ministry denies claims of meningitis-related deaths among siblings    Sri Lanka's expat remittances up in June '25    EU–US trade talks enter 'decisive phase', German politician says    Egypt's Health Min. discusses drug localisation with Sandoz    Needle-spiking attacks in France prompt government warning, public fear    Foreign, housing ministers discuss Egypt's role in African development push    Korea Culture Week in Egypt to blend K-Pop with traditional arts    Egypt, France FMs review Gaza ceasefire efforts, reconstruction    CIB finances Giza Pyramids Sound and Light Show redevelopment with EGP 963m loan    Greco-Roman tombs with hieroglyphic inscriptions discovered in Aswan    Egypt reveals heritage e-training portal    Three ancient rock-cut tombs discovered in Aswan    Sisi launches new support initiative for families of war, terrorism victims    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Egypt's Irrigation Minister urges scientific cooperation to tackle water scarcity    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    Egypt's Democratic Generation Party Evaluates 84 Candidates Ahead of Parliamentary Vote    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Cabinet approves establishment of national medical tourism council to boost healthcare sector    Egypt's PM follows up on Julius Nyerere dam project in Tanzania    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Vivendi in Exclusive Talks to buy Orange's Dailymotion
Published in Amwal Al Ghad on 08 - 04 - 2015

French media group Vivendi has entered exclusive talks to buy 80 percent of video-sharing website Dailymotion from telecom operator Orange for 217 million euros ($236 million), the companies said on Tuesday.
The offer won the backing of a "large majority" of Orange's board, ahead of a rival bid from German broadcaster ProSiebenSat.1, Orange chief Stephane Richard told a parliamentary economic affairs committee.
Richard said Orange would keep the remaining 20 percent of Dailymotion and a right of veto on key issues such as jobs as part of the deal, which corresponds to an enterprise value for Dailymotion of 265 million euros.
"Orange and Vivendi will now enter into a period of exclusive negotiations in order to finalize the terms of this operation," the companies said in a statement.
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", adding that it would use the proceeds to reinforce its digital business.
For Vivendi Chairman Vincent Bollore, the deal marked "a first step in our ambition to create a large, global group that is focused on media and content".
Vivendi is in a fight with activist shareholders over its strategy and how it spends the proceeds from a radical slim-down over the past two years. Having exited telecoms and video games, Bollore and management want to build Vivendi into a stronger media group by adding to its Universal Music Group and French pay-TV operator Canal Plus, and making acquisitions.
Orange has been looking for a partner for over a year to help Dailymotion expand internationally to try to compete with much larger rival Google's YouTube.
The Vivendi negotiations come after Hong Kong conglomerate PCCW said it had ended talks to form an alliance with Dailymotion, citing the French government's desire to see the video-sharing site remain in European hands.
French Economy Minister Emmanuel Macron said last week that Orange, in which the state is the biggest shareholder with about 25 percent, must consider all offers for Dailymotion, adding that France was seeking to promote a strong European digital sector.
In 2013, Orange was in talks to sell all or part of the site to Yahoo, but the French government scuppered the deal over concerns about a promising start-up being snapped up by a U.S. giant.
Dailymotion counts 128 million unique visitors per month, compared with 1 billion for YouTube, and achieves less than 100 million euros in annual sales.
($1 = 0.9210 euros)
Source: Reuters


Clic here to read the story from its source.