Published by Global Banking & Finance Review®
Posted on October 16, 2025
2 min readLast updated: January 21, 2026
Add as preferred source on GoogleCanal+ buys 34% of UGC, focusing on MultiChoice integration to drive growth. The company plans further expansion in broadcasting services.
By Leo Marchandon
(Reuters) -Canal+ has agreed to buy a 34% stake in French cinema operator and producer UGC, with an option to purchase the remaining shares after 2028, although the broadcaster said its main focus was on the integration of MultiChoice after the $2 billion acquisition.
The group's revenue grew 1.2% organically to 4.6 billion euros ($5.4 billion) in the first nine months of 2025, excluding MultiChoice which was consolidated into it only in the final 11 days of the period, Canal+ said in a quarterly report on Thursday.
Integration of the South African broadcaster is the priority, while Canal+ also remains open to growing its holdings in broadcasting services, CEO Maxime Saada told Reuters.
Canal+ owns nearly 30% of Sweden's Viaplay and 37.3% of Hong Kong‑based Viu, with an option to raise that stake to 51%. "We sit on the board of these two companies and we are very satisfied with their development," Saada said.
"We believe that we need to reestablish growth for MultiChoice on its territories," he said, noting the business had seen declines in recent quarters due to energy and currency headwinds in several markets.
Integrating the groups should drive this growth, with MultiChoice gaining access to Canal+'s large library and Canal+ benefiting from MultiChoice's content in vernacular languages such as Yoruba and Hausa, Saada added.
Canal+ now operates in nearly 70 countries through owned platforms and partnerships, including its own service in Myanmar and a 49% stake in VSTV, operator of Vietnam's K+.
UGC, its new partner, runs 55 theatres across France and Belgium and owns a substantial library that includes the acclaimed film "Amélie".
Spun off from Vivendi in December 2024 and listed in London, Canal+ said on Monday it planned a secondary listing in Johannesburg, aiming to debut there before September 2026.
($1 = 0.8579 euros)
(Reporting by Leo Marchandon in Gdansk, editing by Milla Nissi-Prussak)
A stake in a company refers to the ownership interest that an individual or entity holds in that company, typically represented by shares.
Corporate strategy is the overall plan for a company, outlining how it will achieve its goals and objectives, including decisions about investments, partnerships, and market expansion.
Market expansion refers to the strategy of entering new markets or increasing share in existing markets to drive growth and increase sales.
Integration in business involves combining different systems, processes, or companies to improve efficiency and achieve strategic goals.
An acquisition is the process of one company purchasing another company, often to gain control over its assets, resources, or market presence.
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