Canal+ takes Vietnam
French pay-TV group Canal+ and Vietnamese public broadcaster VTV have announced the launch of a pay-TV platform in Vietnam.
The agreement is the result of a joint venture between Canal+ and VTV subsidiary, VCTV. Both partners will respectively owning 49% and 51% of the new business.
Through subsidiary Canal Overseas, Canal+ group will drive the operational management of the structure. Canal will also bring its expertise into the creation of thematic channels as well as into the commercialization of pay TV offers in France and abroad.
With a 5% growth estimated in 2009, the Vietnamese market offers "a strong potential of development," Canal+ adds. The country counts 86 million inhabitants, including 20 million households. For the first time, Canal+ Group is expanding outside Europe and French-speaking Africa.