PCCW said to be mulling £250MN bid for Orange's Dailymotion stake
DetailsEditor | 16 March 2015
In a move that could have serious repercussions for the online video market, especially in Asia, Hong Kong telco PCCW is said to be entering negotiations with Orange to buy its 49% stake in Dailymotion.
dailymotionDailymotion currently generates over 2.5 billion video views per month and 120 million monthly unique visitors. The service is regarded as the main rival to YouTube, and news of a potential sale of Orange's stake first started almost a year ago when the telco's CEO Stephane Richard confirmed he had been talking with US giant Microsoft about a possible partnership for the online video platform.
Now, according to reports in the Financial Times, the Hong Kong telco, which has its own TV offerings in the form of now TV and over-the-top (OTT) service MOOV music, has made an offer valuing Dailymotion at roughly €250 million, including debt. Orange has not confirmed the talks with PCCW, but in a holding statement said: "Discussions remain on-going with various partners but the group is not in exclusive negotiations with any of them."
Only days ago PCCW Media announced it was to acquire a majority stake in Vuclip, a mobile video-on-demand (VOD) service platform, which currently operates in six countries in Asia and the Middle East. "Our vision is to expand beyond Hong Kong by offering industry-leading OTT services. Together, Vuclip and PCCW Media will develop a best-of-breed OTT platform that provides immediate access to PCCW Media's premium Asian content set (including Korean, Japanese, and Chinese language content) across a much expanded audience base in the Asian continent and other regions," said Janice Lee, managing director, PCCW Media.