German commercial broadcaster ProSiebenSat1 Media has acquired a 30% stake in MyVideo, the country's version of US-headquartered video sharing web site YouTube.
According to the Financial Times, ProSiebenSat1 Media has an option to acquire the remaining 70% of the company's shares. Financial terms have not been disclosed.
As the FT reports, the deal comes as broadcasters assess the impact of video sharing sites such as YouTube, Google Video and Yahoo! Video.
MyVideo is said to deliver 2m video downloads every day in Germany, with sites in Poland, France and Spain having lower traffic. That, as the FT reports, is a fraction of the 100m daily downloads that YouTube claims to serve globally.
Lovelace Consulting | 05.09.2006