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French pay-TV large Canal Plus Group and main telecom operator Orange have signed a memorandum of understanding underneath which Canal will purchase Orange’s OCS pay channel bundle in addition to Orange Studio, its movie and TV co-production subsidiary.
A deal would end in Canal changing into the only shareholder in each firms. Monetary phrases weren’t disclosed, nevertheless Les Echos stories that Orange has been working at a loss and “has undertaken to pay minimums ensures to Canal over three to 4 years.”
OCS channels are distributed on all platforms together with Canal Plus whereas Orange Studio has greater than 200 co-productions to its credit score in addition to a listing of practically 1,800 works together with Oscar-winning options akin to The Artist and The Father.
The 2 Orange subsidiaries have been created in 2007 and 2008, respectively. Since then, competitors has intensified with the emergence of highly effective worldwide platforms. Whereas OCS had a major settlement with HBO to broadcast its sequence in France, it’s now dropping that content material with HBO Max getting ready to launch out there.
Canal has been a 33.34% stakeholder since 2012 and the main distributor of OCS, so discussions between the 2 companions have been a pure development, the businesses mentioned in an announcement as we speak. As a significant movie and tv studio in Europe, Studiocanal has numerous property to advertise the Orange Studio catalog.
No timeline was offered for the transaction which might be topic to a session interval for worker consultant our bodies. France’s competitors authorities will even be notified.
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