Orange reportedly acquires 100 % of Dailymotion (for now)
According to Journal du Net, French telecom Orange just bought the 51 % of the Dailymotion shares that it didn’t own yet. The news hasn’t been confirmed on Orange’s website yet.
In 2011, Orange bought 49 % of Dailymotion for € 66 million, but it also negotiated an option to buy the rest of the 51 % shares. It has now apparently lifted that option, which would expire this spring.
The terms of the option were that the value of the 51 % of Dailymotion couldn’t exceed € 72 million, reports JDN. It says that the valuation for Dailymotion is currently around € 100 million (which would also mean that Orange lost about € 16 million on its Dailymotion investment).
Dailymotion, previously a free online video platform, recently started premium services to become less dependent on advertising revenue.
Orange is probably not planning on staying 100 % owner of Dailymotion. According to 01net, Orange is looking for a US partner to strengthen Dailymotion’s position globally.
via JDN Média.
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