Orange is planning to buy the remaining 51% of French online video site Dailymotion it doesn’t already own, according to a local newspaper report.
The France Telecom subsidiary will exercise the right to buy options on the rest of Dailymotion next January at the earliest for around EUR72m (US$90.4m), Les Echos reported yesterday.
Orange first announced it was buying a 49% stake in Dailymotion for EUR59m in January last year, adding that from the beginning of 2013 it would be permitted to increase its capital to 100% and integrate new business partners.
The company originally said it was buying into the video site as a way to accelerate its multi-screen strategy, and to meet a growing demand for video consumption across different devices via internet, Wi-Fi and 3G connections.
Spokespeople for Orange and Dailymotion each declined to comment on the report, which also claimed that the telco’s content division was due to discuss its plans this week.