Media

Yahoo Scraps Deal for French Video Site

Published on April 30, 2013
by Sam Schechner and Amir Efrati

Online-video website Dailymotion was on track to be the first major acquisition for Yahoo Inc. Chief Executive Marissa Mayer, after her company had signed a provisional deal to buy control from owner France Télécom SA. Then Ms. Mayer’s No. 2 executive met with French Industry Minister Arnaud Montebourg.

At an April 12 meeting in Mr. Montebourg’s Paris office, the minister told Yahoo’s chief operating officer, Henrique de Castro, and France Télécom’s chief financial officer, Gervais Pellissier, that he didn’t want 75 percent of a rare French Internet success story to be sold to an American Web giant, according to people briefed on the meeting.

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