Deals
Vivendi's Canal+ to Buy M7 Pay TV for $1.1 Billion
- French pay-TV operator gains subscribers in seven markets
- Investors in Vivendi are focused on Universal Music stake sale
Canal+ signage is displayed in Issy les Moulineaux, France.
Photographer: Fabrice Dimier/Bloomberg
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Vivendi SA’s Canal+ agreed to buy pay-TV operator M7 Group for just over 1 billion euros ($1.2 billion) to expand in Europe, where it’s vying for subscribers with Netflix Inc.
The purchase of M7 from private equity firm Astorg Partners SAS pushes Canal+ into seven European countries, bringing its total subscribers to almost 20 million, Paris-based Vivendi said in a statement late on Monday. M7, with 3 million subscribers, operates a largely direct-to-home satellite business in central and eastern Europe, the Netherlands and Belgium.