Zattoo’s business customer division is being positioned more centrally, at the cost of the end user division which will be integrated into the central business, while the advertising arm will become an independent business area. In other words, this is the beginning of the end for Zattoo’s direct to consumer business as the company begins the gradual deemphasis in favor of the bigger B2B segment. To us, this is a natural next step for Zattoo. However, it also looks like a plan B, after Zattoo showed late interest in inheriting a share of MobiTV’s assets and was, among others, beaten to the punch by TiVo in an $18.5 million deal earlier this year. With almost forty operators on its books…