Vivendi is clearing out its entertainment businesses ahead of its split into four companies. The Canal+ group will take in GVA, a telecommunications services company in Africa; the Dailymotion video platform; the L’Olympia performance halls and the L’Œuvre theatre in France; and the CanalOlympia movie theatres in Africa.
“Certain assets held by Vivendi, whose operational activities are very close to those of Canal+, are currently being transferred to the latter company for the sake of consistency,” the press release states.
“Canal+ Group will become an international media group”
Based on this new scope, Canal+’s pro forma revenue would have amounted to €6.2 billion in 2023, adjusted operating income (EBITA) to €472 million and net cash flow from operations (CFFO) to €315 million, Vivendi specified in its press release. Prospective figures that bring the media & communications group to estimate its number of subscribers at 26.8 million at the same date, including 16.0 million outside France (i.e. approximately 60% of its base).
Canal+ Group also holds a 45.2% stake in MultiChoice with a mandatory tender offer in progress, a 36.8% stake in OTT platform Viu and a 29.33% stake in Viaplay.
Three business segments for the Canal+ group
With this change in its subsidiary, Canal+ group will have three business segments: Canal+ Europe – comprising the Group’s subscription pay television activities
(including OTT) and free television financed by advertising in France, in the French overseas territories and adjacent territories, in Poland, in Central Europe and in Benelux (via its wholly-owned subsidiary M7) as well as telecommunications services in the
French Overseas Territories. Canal+ Africa and Asia – including subscription pay-TV and ad-supported free-to-air TV activities, GVA, CanalOlympia theatres across French-speaking sub-Saharan Africa as well as subscription pay-TV activities in Vietnam, Myanmar and the Pacific. And finally content production, distribution and others – including Studiocanal, Dailymotion, Théma as well as L’Olympia and the Théâtre de l’Œuvre.
Announced last December, Vivendi’s objective is the separation project into four listed companies. The Canal+ group on the London Stock Exchange, the Havas group would be listed in Amsterdam, Louis Hachette with Lagardère and Prisma Media in Paris and the Vivendi company.
