French pay TV company Canal Plus (AN.FR), controlled by conglomerate Vivendi SA (VIV.FR), will buy a 33.33% stake in the movie channels owned by French telephone operator France Telecom SA (FT.FR), both companies said Friday.
France Telecom will retain 66.66% in the TV channels and governance will be split between companies proportionally, tehy said ina joint statement.
As a result of the alliance, Canal Plus will broadcast the five movies channels run by France Telecom's mobile telephone unit Orange to its Canalsat subscribers.
No financial details were provided.