Cinema: Canal+ announces its intention to buy UGC

"Initially, the Canal+ group would acquire a minority stake (34%) in UGC's capital. In a second phase, agreements with UGC shareholders would allow the Canal+ group to take control of UGC from 2028," details a press release from the group, controlled by billionaire Vincent Bolloré.

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 content catalog," 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 acquisition of UGC's capital 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, with 200 films and 80 series per year, including several franchises.