Global media powerhouse Canal+ said on Tuesday (September 2) it has entered exclusive negotiations to acquire a 34% stake in French cinema group
Global media powerhouse Canal+ said on Tuesday (September 2) it has entered exclusive negotiations to acquire a 34% stake in French cinema group UGC.
The deal would further expand the Paris-based media and telecommunications group’s reach with a major move into theatrical exhibition.
If the minority acquisition is completed, Canal+ would hold the option for full control of UGC from 2028.
UGC is a leading French cinema and audiovisual production group with one of France’s most stalwart cinema chains that includes 55 cinemas (48 in France and seven in Belgium) and tens of millions of admissions each year.
It owns several multiplexes in major cities including Paris’ UGC Ciné Cité Les Halles in Paris, the most visited cinema in the world. Highlights from its content include successful franchises like Serial (Bad) Weddings, global hits like Amélie, and series like HPI – High Potential and Soleil Noir – Under A Dark Sun.
Canal+ listed on the London Stock Exchange in December and boasts close to 27million subscribers across 52 countries. Its film and TV studio Studiocanal produces and distributes around 200 films globally, and is home to global IP such as Paddington and Bridget Jones.
Canal+ CEO Maxime Saada said in a statement on Tuesday: “The growth of Studiocanal, led by Anna Marsh, is a priority for the Canal+ group, and combining our business with UGC would enable us to accelerate this development. This transaction demonstrates the group’s commitment to cinema and theatrical exhibition, which play a vital role in showcasing and enhancing the value of films.”
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