Tue, 30 Dec 2014 | DIVISION SALE
TalkTalk has emerged as a potential buyer for Blinkbox, Tesco’s failing video streaming business.
The supermarket giant has been keen to offload the business ever since chief executive Dave Lewis inherited it from his predecessor Philip Clarke.
The Blinkbox business includes three companies: Blinkbox Entertainment, a video streaming service created to rival the likes of LoveFilm and Netflix; Mobcast, a digital book service; and WE7, a music streaming service. Together the trio of companies lost just under £25 million last year.
At the start of December Vodafone was also touted as a potential buyer for Blinkbox, as the telecoms firm looks to offer complementary services to its broadband and TV packages.
For now, however, TalkTalk is leading the race to acquire the struggling business, according to the Financial Times. The newspaper states that Mr Lewis could announce the deal as soon as next week as he reveals his new strategy to improve Tesco’s fortunes, which will involve exiting peripheral services and focusing on its core businesses.
TalkTalk’s TV business is the fastest growing in the UK, with over 1.2 million customers at present. Buying Blinkbox would accelerate this growth, offering both more customers as well as exclusive contracts for certain TV series and films.
The deal is still reportedly ongoing so negotiations could yet fall through. Neither Tesco or TalkTalk have offered a comment at this time.
_____________________________________________________________
Related information:
Evaluate a target company
For sale is a long-established tree surgery and arboricultural services business with an excellent reputation, serving both domestic and commercial sectors across Southern England, including the Home Counties and London.
An opportunity has arisen to acquire a mechanical engineering company specialising in the Water Industry. Benefitting from over 3 decades of trading, this business has built a solid and long standing client base comprised of prominent UK utility comp...
An opportunity has arisen to acquire a reputable IT support and development services provider with a UK-wide client base and a proven record for innovation and resilience in the constantly evolving IT sector. Throughout its 25+ year trading history,...
25
|
Apr
|
Scaffolding company Hi-Point Access raises funds following Gap acquisition | BUSINESS SALE
Sheffield scaffolding company Hi-Point Access has secured &p...
24
|
Apr
|
Malaysia's IJM buys a stake in London construction firm JRL | BUSINESS NEWS
IJM Corporation Berhad has bought a 50% stake in Borehamwood...
24
|
Apr
|
Training group Babington bought by PE-backed Knovia | BUSINESS SALE
Apprenticeship and training provider Babington has been acqu...
27
|
Sep
|
TalkTalk poised to sell £150m B2B division as part of demerger | BUSINESS SALE
As part of its planned demerger, telecoms giant TalkTalk is ...
14
|
Mar
|
Outsourcing giant plans £700m asset sale | DIVISION SALE
One of the country’s largest outsourcing players, Capi...
19
|
Apr
|
Tesco selling optician business to Vision Express | BUSINESS SALE
Tesco is to sell its in-store optician business to Vision Ex...
Business Sale Report is the complete resource for finding genuine acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.