Dailymotion looks ahead despite scuppered Yahoo! deal

May 03, 2013
The head of Dailymotion, the video-sharing site at the centre of an uproar after the French state blocked its sale to Yahoo!, said in an interview published there was still a lot of interest abroad for his firm.

The head of Dailymotion, the video-sharing site at the centre of an uproar after the French state blocked its sale to Yahoo!, said in an interview published Friday there was still a lot of interest abroad for his firm.

Industrial Renewal Minister Arnaud Montebourg admitted this week to having derailed plans by the US web giant to buy a majority stake in Dailymotion, dealing a blow to attempts by France to appear more business-friendly.

"I regret the governmental obstruction, because we live in a globalised environment in which we have to make choices that maximise our chances of success in the long term," Cedric Tournay, chief executive of Dailymotion, was quoted as saying in Le Monde.

But in an indication it had not had a , he said his firm, the 12th-largest video-sharing website and an industry leader in Europe, had still received "many expressions of interest from the whole world" after the scuppered deal.

Tournay did not elaborate in the interview, and said the company's board would review the opportunities.

Yahoo! Inc. had been in talks to buy a 75 percent stake in Dailymotion, which is owned by telecommunications firm Orange, itself owned by French giant France Telecom.

But the government, which holds a 27 percent stake in France Telecom, had insisted on a 50-50 split.

Montebourg said Wednesday he had blocked the deal because the US firm was seeking to "devour" the French company. He said the government wanted a "balanced" agreement that would allow Dailymotion to retain its identity.

But the move caused anger in some business circles, and CEO Stephane Richard hit out at Montebourg, saying the firm's management—not the government—should be deciding the strategy for Dailymotion.

Tournay said the deal with Yahoo! would have been "exciting" as it would have turned Dailymotion into the US firm's global .

"We would have kept our identity and continued to operate autonomously, but with much bigger ambition. Yahoo!'s strategy is to invest massively in video. Dailymotion would have benefited from these investments," he said.

Explore further: Tech firm fined for paying workers $1.21 per hour

add to favorites email to friend print save as pdf

Related Stories

Yahoo! stock climbs on report of Alibaba sale

May 18, 2012

Yahoo! stock price climbed Friday on renewed rumors that it was close to a multibillion-dollar deal to sell half of its stake in Alibaba.com back to the Chinese online shopping portal.

Silver Lake, others eye Yahoo!: reports

Sep 16, 2011

Private equity firm Silver Lake Partners has approached Yahoo! about making a bid for the struggling Internet company, according to newspaper reports.

Recommended for you

Ericsson profit down 10 pct despite higher sales

4 hours ago

Wireless equipment maker Ericsson says its third-quarter earnings slumped 10 percent despite higher sales due to increased operating costs and negative effects from currency hedging.

Glass maker deals to exit Apple, Arizona plant

6 hours ago

Nearly 2,000 furnaces installed in a factory to make synthetic sapphire glass for Apple Inc. will be removed and sold under a deal between the tech giant and the company that had been gearing up to produce huge amounts of ...

User comments : 0