Feeds

Yahoo! scuppered! in! Dailymotion! buyout! attempt!

French gov cries 'Non!' to $300m video slurp

Designing a Defense for Mobile Applications

Yahoo! has had to give up its attempt to take a controlling stake in French video startup Dailymotion after the government intervened, according to media reports.

The Purple Palace was forced to abandon its pursuit of a 75 per cent stake in the online video site when French industry minister Arnaud Montebourg, part of the ruling socialist government, told the company that he didn't want an American web firm in charge of a French internet success story, familiar people told the Wall Street Journal.

"I won't let you sell one of France's best startups," Montebourg reportedly told Dailymotion owner France Telecom at a meeting. "You don't know what you're doing."

French newspaper Le Monde had earlier reported that the talks had collapsed.

Yahoo! has apparently decided not to go on pushing after Montebourg said it couldn't take a majority stake - and therefore control - of the firm, although France Telecom is still up for the deal.

Montebourg said in a statement that he wanted "to attract more foreign investment in France, in particular from American companies" and he was sorry that the talks between Yahoo! and France Telecom "did not lead to a satisfactory agreement".

Yahoo! and Dailymotion had already signed a nonbinding deal for the stake that valued the firm at $300m, in what would have been the largest acquisition of chief Marissa Mayer's tenure so far.

The deal would have given Yahoo! a home in web video outside the US while helping Dailymotion to compete with the likes of Google's YouTube. ®

Using blade systems to cut costs and sharpen efficiencies

More from The Register

next story
BBC goes offline in MASSIVE COCKUP: Stephen Fry partly muzzled
Auntie tight-lipped as major outage rolls on
iPad? More like iFAD: We reveal why Apple fell into IBM's arms
But never fear fanbois, you're still lapping up iPhones, Macs
Nadella: Apps must run on ALL WINDOWS – PCs, slabs and mobes
Phone egg, meet desktop chicken - your mother
White? Male? You work in tech? Let us guess ... Twitter? We KNEW it!
Grim diversity numbers dumped alongside Facebook earnings
Microsoft: We're making ONE TRUE WINDOWS to rule us all
Enterprise, Windows still power firm's shaky money-maker
HP, Microsoft prove it again: Big Business doesn't create jobs
SMEs get lip service - what they need is dinner at the Club
ITC: Seagate and LSI can infringe Realtek patents because Realtek isn't in the US
Land of the (get off scot) free, when it's a foreign owner
Dude, you're getting a Dell – with BITCOIN: IT giant slurps cryptocash
1. Buy PC with Bitcoin. 2. Mine more coins. 3. Goto step 1
There's NOTHING on TV in Europe – American video DOMINATES
Even France's mega subsidies don't stop US content onslaught
prev story

Whitepapers

Designing a Defense for Mobile Applications
Learn about the various considerations for defending mobile applications - from the application architecture itself to the myriad testing technologies.
How modern custom applications can spur business growth
Learn how to create, deploy and manage custom applications without consuming or expanding the need for scarce, expensive IT resources.
Reducing security risks from open source software
Follow a few strategies and your organization can gain the full benefits of open source and the cloud without compromising the security of your applications.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.
Consolidation: the foundation for IT and business transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.