French pay TV operator Canal Plus is to take a minority stake in rival OrangeÂs pay TV venture, abandoning a earlier plan for a 50:50 merger between OrangeÂs CinÃ©ma series channels and Canal PlusÂs TPS Star, according to a report in financial daily La Tribune.
According to the paper, the pair have struck a deal whereby Canal Plus will take a minority stake in the Orange channels and will not exercise management control. This means that the agreement will not be subject to approval by the countryÂs competition regulator, according to the report.
The previous plan was to create a 50:50 joint venture combining OrangeÂs channels with TPS Star, with a single channel created from the merger of TPS Star and Orange CinÃ© Max and Canal Plus giving responsibility for content acquisition. However, Canal Plus had expressed an unwillingness to participate in the creation of a wholly autonomous company (which was seen by Orange as necessary to avoid anti-competition issues).Â
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10 April 2021 @ 16:00:01 UTC