MUMBAI: The Paris-headquartered media and telecommunication company
Vivendi Universal is buying Television Par Satellite (TPS). The
company will also combine its broadcast business with its French
pay-TV business Canal Plus to create a company valued at 7.5 billion
euros (US$9 billion).
Vivendi will own 85 per cent of the new company, while TPS owners
Societe Television Francaise 1 and M6-Metropole Television will
own 9.9 per cent and 5.1 per cent, respectively, the companies said
in a media release.
The aim of this industry alliance is to develop a rich
and competitive pay-TV product with strong brand names, for the benefit
of consumers. The new group would be a major player on the French
broadcasting market. It would reinvigorate and broaden the French
pay-TV market, offering its subscribers and future subscribers a significantly
richer and improved product the release adds.
