Blinkbox Movies bought by TalkTalk for cash
Tesco is a bit happier today, it has managed to sell off it's ill-suited video streaming service Blinkbox to budding telecoms giant TalkTalk for a once-off cash payment.
Completing the deal that had been rumoured last week TalkTalk Chief Executive, Dido Harding, is pleased with the opportunity that this acquisition will bring to their television and media offerings. "We are excited about the opportunity that blinkbox's platform and technology expertise bring, and which will significantly accelerate the development of our TV platform."
In purchasing Blinkbox, TalkTalk have also picked up Tesco's Broadband and Voice products as well, some 75,000 customers to add to their significant numbers. Harding continued, "The purchase of Tesco's broadband base is another example of TalkTalk leveraging its national network to grow faster. We are excited about the future of quad-play - fixed phone and broadband, TV and mobile".
In Ireland, the only company offering Quad-Play is Eircom, but it is rumoured that others such as Sky or UPC may be looking to join them at some point during 2015.
Tesco is pleased that the services could successfully be sold, estimating that it expects it will significantly reduce its £1 billion capital expenditure budget for the coming year. Now Tesco will be able to concentrate on fixing several months of negative growth.