French OTT linear TV service Molotov has failed to raise new funding and its shareholders are likely to be forced to give up control of the operation to one of a number of potential buyers including France Télévisions, according to financial daily Les Echos.
According to the paper, Molotov has failed to achieve CEO and co-founder Jean-David Blanc’s ambition to raise some tens of millions of euros to finance its international expansion and the outfit will soon be in need of fresh funding.
Citing unnamed sources, Les Echos says that pubcaster France Télévision recently entered into exclusive talks with Molotov with a view to acquiring its technology platform for around €40 million to serve as the basis for its own planned revamped digital service. France Télévision would not however be interested in acquiring Molotov’s consumer service as a going concern, according to the paper.
Les Echos reports that other potential buyers are also interested in acquiring the operation.
Molotov had seven million users at the end of last year after a period of rapid growth, but has struggled to develop a viable economic model for its service.
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03 December 2020 @ 18:34:00 UTC