OTT platform Molotov announced on Twitter that it is holding exclusive talks with SFR’s parent Altice France on the future development of its streaming service. As part of the negotiations, Altice France plans to acquire a majority stake in Molotov, which will continue to operate under its own brand.
Jean-David Blanc, co-founder and CEO of the platform, said that a deal with Altice France would support Molotov’s goal to become “the Spotify of the TV” in France and internationally. For Altice France’s divisions SFR and RMC Sport, the expertise of Molotov’s team will help improve the OTT experience for TV subscribers.
Blanc told Techcrunch that Altice France is negotiating a 60 percent stake in the company. Under the plan, Molotov’s existing investors remain shareholders and some of them, including Idinvest, would plough more money into the platform. The acquisition of a stake by Altice is based not just on a cash injection, but also synergies and content it brings to the deal.
After raising over EUR 30 million since its creation in 2014, Molotov has been at the centre of several press reports in recent months, with rumours that a fresh capital injection was needed to ensure its survival. The company announced it had reached 7 million users on 18 December 2018, but the number of paying subscribers to the platform has never been disclosed.
