Canal + wants to buy the UGC cinema network

Upcoming upheavals in the film industry. The Canal + group announced on Tuesday, September 2, that it is negotiating to acquire a stake in the UGC cinema network with the aim of a "possible takeover" in 2028.

"Initially, the Canal + group would acquire a minority stake (34%) in the capital of UGC. In a second phase, agreements with UGC shareholders would allow the Canal + group to take control of UGC from 2028," the group detailed in a press release.

UGC, a major French group in cinema and audiovisual production, is also one of the largest cinema operators in France with around fifty screens.

"UGC has built a remarkable cinema chain and an iconic catalog of content," said Maxime Saada, Chairman of the Board of Directors of Canal +, in the press release. "The growth of StudioCanal, led by Anna Marsh, is a major challenge for the Canal + group and its combination with UGC, a long-standing strategic partner, would allow us to accelerate this development."

According to the Canal + group, the signing of agreements relating to the entry into the capital of UGC will still have to be subject to "information and consultation with the relevant staff representative bodies" .

Since its creation in 1984, Canal+ has become a global player in media and entertainment, with nearly 27 million subscribers in 52 countries. Its production and distribution studio, StudioCanal, is the leading European film and television studio, producing 200 films and 80 series annually, including several franchises.

In 2021, the two French companies joined forces to launch a joint "unlimited" offer for young people, combining a subscription to Canal + channels and the UGC Illimité card.