Paris-headquartered entertainment company Vivendi has announced that it has acquired an 80% stake in Dailymotion from French carrier Orange for $24m. “The integration within Vivendi offers Dailymotion the means to strongly accelerate its growth and continue its international expansion,” the company said. This acquisition is expected to give Vivendi the access to particularly attractive music and audiovisual content and […]
Paris-headquartered entertainment company Vivendi has announced that it has acquired an 80% stake in Dailymotion from French carrier Orange for $24m.
“The integration within Vivendi offers Dailymotion the means to strongly accelerate its growth and continue its international expansion,” the company said.
This acquisition is expected to give Vivendi the access to particularly attractive music and audiovisual content and allows for the joint development, together with the Universal Music Group and Canal+ Group teams, of original and distinctive content and formats meeting the expectations of a whole new generation of digital consumers.
This acquisition is at the core of Vivendi’s digital strategy, it added.
“With Dailymotion, the group benefits from an over-the-top distribution platform of international stature and of a technological expertise which complements the group’s existing one,” it added.
Orange will retain the remaining 20% of the company.
