Blinkbox sold by Tesco at loss
TESCO offloaded its music streaming service Blinkbox Music to Australian firm Guvera yesterday in a deal thought to be worth around £5m, significantly less than the £12m the supermarket paid to acquire the service in 2012.
The sale was quickly followed by the announcement that Tesco’s remaining digital entertainment services, Blinkbox Books, will be shuttered in February after the supermarket failed to find a buyer for the ebook platform. Blinkbox Books, then known as Mobcast, was bought by Tesco in 2012 for £4.5m.
Both moves come just weeks after Tesco sold Blinkbox Movies to TalkTalk for a reported £25m as the supermarket looks to cut costs and “focus on its core business”.