US digital media major Yahoo! Inc (NASDAQ:YHOO) is in negotiations that could result in its acquisition of a 75% of French online video platform Dailymotion SA, wholly owned by France Telecom SA (EPA:FTE), the Wall Street Journal reported, quoting people in the know.
According to one of the insiders, the site could be valued at some USD300m (EUR232.5m) and Yahoo! might buy the remaining interest going forward.
Investments outside the United States are bound to play a key role in Yahoo’s growth, with the company aiming to strengthen its presence particularly in markets such as the UK and Germany, the firm’s CEO Marissa Mayer has repeatedly said.
France Telecom is looking for a big strategic partner for Dailymotion, ideally an American one, and a very good opportunity has come up, the French communications provider’s CEO Stephane Richard said in February, without elaborating.