Bertrand Meheut, Chairman of Canal+ Group, and Stéphane Richard, Chairman and CEO of Orange, have announced the finalisation of their proposed strategic partnership, which calls for Canal+ Group’s acquisition of a 33.33 per cent minority interest in Orange Cinema Series. As a result, Orange will hold a 66.66 per cent share of Orange Cinema Series, while Canal+ Group would hold 33.33 per cent, with governance provided by both partners in proportion to their percentage of interest.
They say this partnership strategy offers multiple advantages. In particular, the agreement provides for:
– Content production continuity for the Orange Cinema Series package of five channels by maintaining the brand, its current names (Orange cinemax, Orange cinehappy, Orange cinenovo, Orange cinechoc and Orange cinegeant) and related interactive services;
– Broader distribution: Orange will continue to distribute its multichannel package and related interactive services to its customers; Canal+ will offer the package to all CanalSat subscribers; and the partnership plans to make the service available to all interested operators;
– A more balanced business model thanks to wider distribution of the Orange Cinema Series service.
This agreement will also strengthen the existing partnership between Orange and Canal+ for the distribution of Canal+ and CanalSat products and services within the Orange network.