Canal+ Increases Stake in Viu, Eyes Majority Ownership of Asian Streamer – Global Bulletin
variety.comPatrick Frater Asia Bureau Chief France’s Canal+ Group has increased its stake in multi-territory Asian video streamer Viu to 36.8%.
It says that the move is in accordance with the terms of the strategic partnership with Viu owner PCCW Group announced a year ago and follows the satisfaction of key business milestones.
The move is the second time that Canal+ has increased its share stake and means that Canal+ has released the last instalment of its $300 million staggered investment. “This investment is a renewed testimony to Canal+’s commitment to develop Asia as one of the group’s growth engines and underlines Canal+’s confidence in Viu and its team,” the French company said in a statement.
A further investment, at Canal+’s discretion, could lift its ownership stake in Viu to 51%. Days after the completion of the festival, “The Moogai” was revealed as the winner of the audience award for best Australian feature at the Sydney Film Festival.
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