Canal+ to give up Orange Cinéma Series

Canal+ is to relinquish all control over the Orange Cinéma Series channels while remaining a shareholder, according to local reports.

The competition authority ruled in July that Canal Plus should withdraw from the venture, in which it holds a 33.3% stake.

However, Orange expressed its opposition to a sale to the regulator and the latter decided to allow the Vivendi-owned pay TV operator to remain a shareholder while giving up all management control.

According to financial daily Les Echos, Canal+’s two representatives on the Orange Cinéma Series management board will be replaced by independent administrators and the Orange channels will no longer be obliged to devote a certain part of its acquisition budget to Canal+ content.