Canal+ To Acquire A 26% Stake In Hong Kong Based Streaming Platform VIU
PCCW and Canal+ have announced a strategic partnership through which the French media giant will become a significant minority shareholder in PCCW’s Asian streaming service Viu. Canal+ will make a staggered investment of $300M in Viu, including an initial investment of $200M, resulting in a 26.1% stake. It also has an option to make a further investment and turn that stake into a controlling 51%. In a statement, Canal+ talked expansion opportunities and plans to collaborate with Viu on premium production: During the year, the French company expanded their stake in MultiChoice beyond 30%. This move similar to VIU raises speculation of a possible takeover and should that be the case one has to wonder what would become of Showmax and VIU in South Africa if it's operated by Canal+. "This new strategic partnership will enable the further growth of Viu, leveraging the global strength and expertise of Canal+ through various initiatives including collaboration on premium produc