Vivendi Acquires Dailymotion

This week French media conglomerate Vivendi officially acquired the online video site Dailymotion for roughly $241 million. Vivendi reportedly plans to use Dailymotion's assets and original content to attract millennial viewers to their existing properties like Canal + and Universal Music Group. According to Variety, "Vivendi property Canal Plus is already active on YouTube with about 30 channels, and Vivendi's Studio Bagel brand runs 11 YouTube channels and creates original and branded content for Canal Plus." Read more about Vivendi's purchase of Dailymotion and what it means for both companies here.