Patrick Frater Asia Bureau Chief France’s Canal+ Group said that it has increased its stake in multi-territory Asian streaming platform Viu to 30%. “This additional investment underlines the confidence that Canal+ has in Viu and its teams.
It also highlights the determination of Canal+ to make Asia its next growth vector, through its strategic partnership with PCCW, and through an acceleration of growth at Viu, a premium streaming service present in Asia, the Middle East and South Asfrica,” the French group said in a statement.
Additionally, it said that its investment in Viu now amounted to some $300 million and that it retains an option to increase its stake to 50%.
In June last year, Canal+ announced that it was to pay $200 million for an initial 26.1% stake in Viu and that it would make a total staggered investment of $300 million.
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