Canal+ acquires 33% interest in Orange Cinema

MUMBAI: Canal+ Group chairman Bertrand Meheut and French telecom company Orange chairman and CEO Stéphane Richard have announced the finalisation of their proposed strategic partnership, which calls for Canal+ Group‘s acquisition of a 33.33 per cent minority interest in Orange Cinema Series.

As a result, Orange will hold a 66.66 per cent share of Orange Cinema Series, while CANAL+ Group would hold 33.33 per cent, with governance provided by both partners in proportion to their percentage of interest.

This partnership strategy offers multiple advantages. In particular, the agreement provides for content production continuity for the Orange Cinema Series package of five channels by maintaining the brand, its current names (Orange cinemax, Orange cinehappy, Orange cinenovo, Orange cinechoc and Orange cinegeant) and related interactive services. 
Orange will continue to distribute its multichannel package and related interactive services to its customers; Canal+ will offer the package to all Canalsat subscribers; and the partnership plans to make the service available to all interested operators.

This agreement will also strengthen the existing partnership between Orange and Canal+ for the distribution of Canal+ and Canalsat products and services within the Orange network. Orange and Canal+ will build on their respective know-how in technology, particularly in new services, as well as in content production. 
Richard said, "This project with the Canal+ Group is yet another illustration of the partnership strategy for content we presented in June 2010. Our goal is to promote the content of our production partners and to offer our customers innovative packages and services that build on the experience we have acquired in recent years and, of course, on our networks. To continue to develop the Orange cinema series package, of which we can be proud and which continues to be offered in its present form to our 400,000 customers, I know that we can rely on the formidable know-how of Canal+ in the production and marketing of premium channels."
Meheut said, "This partnership with Orange, the ADSL market leader in France, is in line with our strategy of multiplatform distribution: making our offers as widely available as possible on all broadcast networks. This is a natural bridging of our respective know-how in technology and content production to make quality offers to all television viewers, accompanied by the most innovative services".

Information on the partnership has been presented to employee representative bodies and will be subject to their review and to the approval of the competent authorities.

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