Elsa Keslassy International CorrespondentVivendi-owned pay TV group Canal Plus has signed a pact with France’s film guilds on Thursday to invest €600 million ($680 million) in French and European films from 2022 to 2024.Under the agreement, Canal Plus will have to dedicate 85% of the $680 million to French films over the next three years.
The pact, which took six months to come to fruition, was signed by Canal Plus CEO Maxime Saada and France’s main film unions, the ARP, BLIC and BLOC, representing everyone from authors to directors, producers, distributors and exhibitors.The group has been considered as France’s biggest backer of French movies for the last 30 years and has been bound by investment agreements, as are all French TV groups..
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