Network Convergence

Canal Plus Buys 33.33% Of France Tel's Pay-TV Movie Channels

Updated:2011/7/15 18:09

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.

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