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Canal+ might pull out of Orange Cinema Series deal
11.16 Europe/London, November 23, 2011 By Robert Briel
The Canal+ Group has said it might not acquire a 34% stake in the Orange Cinema Series channels if the competition authorities impose any conditions.
Last July, France Telecom entered into an agreement with Canal+, but according to a report in Le Figaro, the Vivendi subsidiary can pull out of the deal if the authorities – either in Paris or Brussels – attach too many conditions to the deal.
Canal+ submitted the agreement to the European Commission, but they have not yet given them its views asking instead for some more information. Part of the contract is a clause that caps the total expenditure of broadcast rights for Orange Cinema Serie at €70 million. This could be seen as a protective measure for Canal’s own premium channels.
Another matter impacting the deal is the recent verdict of the French competition authority to disband Canal’s acquisition of TPS and the €30 million fine.
11.16 Europe/London, November 23, 2011 By Robert Briel
The Canal+ Group has said it might not acquire a 34% stake in the Orange Cinema Series channels if the competition authorities impose any conditions.
Last July, France Telecom entered into an agreement with Canal+, but according to a report in Le Figaro, the Vivendi subsidiary can pull out of the deal if the authorities – either in Paris or Brussels – attach too many conditions to the deal.
Canal+ submitted the agreement to the European Commission, but they have not yet given them its views asking instead for some more information. Part of the contract is a clause that caps the total expenditure of broadcast rights for Orange Cinema Serie at €70 million. This could be seen as a protective measure for Canal’s own premium channels.
Another matter impacting the deal is the recent verdict of the French competition authority to disband Canal’s acquisition of TPS and the €30 million fine.