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.
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