Vivendi Purchases Dailymotion for $243 Million

PARIS: Vivendi has acquired an 80 percent stake in the online video platform Dailymotion from Orange, for 217 million euros ($243 million).

The move gives Vivendi access to a range of music and audiovisual content and allows for the joint development of original content, together with the Universal Music Group and CANAL+ Group teams. With Dailymotion, Vivendi benefits from an OTT distribution platform that has an international presence. The video-sharing website features a host of music videos, short movies, TV, funny and extreme videos.