Talks between pay-TV operator Canal+ and telco Orange about the merger project regarding Orange movie channels with TPS Star have been finalised.
According to Orange CEO Stéphane Richard, speaking at the Aix-en-Provence annual socio- economic meeting, France Télécom will keep 66% of the joint-venture, with Canal+ holding 34% and no final control on the channels.
Both groups have completed the initial stage of the project announced in early 2011 regarding a 50/50 joint-venture and which does not need any authorisation from the French Competition Authorities to proceed. Stéphane Richard also confirmed this week-end his group is currently discussing with Al-Jazeera regarding the sale of Orange Sport Channel.
The Qatari group recently bought the rights to premium French football League I, along with Canal+. It is also a shareholder of Ligue football team Paris Saint-Germain.