Buried beneath 35 minutes of updates on broadband products and fiber technology strategies lay one overarching strategic theme for the video business—presented during the company’s recent analyst day—to grow the cloud side of the video division to $100 million in recurring revenue by 2026, driven by growth in live sports streaming and advertising technology. Even after digesting the numbers and sitting through the sales pitch, we are not confident in Harmonic’s ability to reach this target, and would not rule out the possibility of an offer coming in for the video division before 2026 (even after the shambles of the dead-end strategic review, which closed in April 2024). Before we get into how Harmonic plans to transform its besieged video…