Orange is offloading Globecast, the French media services firm once central to its video ambitions. Despite €216.8 million ($250 million) in annual revenue, Globecast remains unprofitable, and Faultline doubts any buyer will pay even half that figure. Globecast is a French-based media technology company that provides content management and delivery services for the broadcast, media, and entertainment industries. The company, owned by Orange, offers a global hybrid network of satellite, fiber, and cloud-based infrastructure. The company specializes in live event broadcasting, serving as a major provider of contribution and distribution services for live sports, news, and special events. Its Managed Cloud Network (MCN) is specifically designed to meet the high-performance requirements of live sports coverage. Orange has engaged an investment bank…