French pay-TV service Canal+ plans to acquire a portion of UGC, a significant player in French movie theaters, with aspirations for a complete takeover by 2028.

The French media landscape is abuzz with news as Canal+, a leading player in the industry, is in exclusive negotiations to acquire a 34% minority stake in UGC, one of France's largest cinema chains.

UGC, known for its major multiplexes in cities such as Paris, Lyon, and Lille, owns the UGC Ciné Cité Les Halles in Paris, one of the most visited cinemas in the world. The company also operates subsidiaries in production and distribution, and boasts a significant library of films and television series, including French blockbusters like Amélie and the Serial (Bad) Weddings franchise, as well as the hit TV series HPI - High Potential.

The deal, which remains subject to consultation with employee representatives in accordance with European Union regulations, combines Canal+'s production and distribution arm, StudioCanal, with UGC's exhibition network of 55 theaters across France and Belgium.

Maxime Saada, CEO of Canal+, stated that the UGC agreement strengthens the company's commitment to cinema and theatrical exhibition. Under the proposed UGC deal, Canal+ would acquire an initial stake and retain the option to purchase the remaining shares from 2028, subject to shareholder approval.

In addition to this deal, Canal+ has increased its stake in Asian streaming service Viu to 37.2%. The media giant, which owns StudioCanal and produces and distributes around 200 films annually, currently has nearly 27 million subscribers in 52 countries.

It's worth noting that the deal does not provide information about the CEO of UGC that Canal+ intends to acquire a minority stake in. Also, there is no information about the potential impact of this deal on the U.S. or any other countries.

Furthermore, Canal+ is pursuing a mandatory takeover offer for South African pay-TV group MultiChoice, pending regulatory approval. This move indicates a broader global strategy for the media giant, as it seeks to expand its influence in the entertainment industry.

In conclusion, the potential acquisition of UGC by Canal+ marks a significant step in the French media industry. The deal, if successful, will create a powerful entity that will shape the future of cinema and streaming in France and potentially beyond.

French pay-TV service Canal+ plans to acquire a portion of UGC, a significant player in French movie theaters, with aspirations for a complete takeover by 2028.