Canal + between exclusive conferences to buy participation in the French studio UGC
Canal + Group has concluded exclusive negotiations to buy a 34% stake in UGC, the cinema studio whose headquarters is in Paris which operates one of the main French cinema chains.
After the acquisition of minority participation, Canal + would have the possibility of taking total control of the UGC from 2028.
The UGC, which also includes a large library and a talent swimming pool, has a cinema chain of 55 theaters, including 48 in France and 7 sites in Belgium which are mainly multiplexes. According to Canal +.
The UGC film library mainly includes traditional comedies, such as “Serial Bad Weddings” (photo), as well as films such as “Amelie” by Jean-Pierre Jeunet and “HPI”, the successful series which was redone in “High Potential” by ABC.
Canal + Group, which has more than 27 million subscribers in 52 countries, has direct theatrical operations in key territories, notably France, Germany, the United Kingdom and Australia / New Zealand, among others. The company produces and distributes around 200 films worldwide and is behind world successful franchises such as “Paddington” and “Bridget Jones”.
In a press release, the CEO of Canal +, Maxime Saada, said that “the growth of studiocanal, led by Anna Marsh, is a priority for the Canal +group, and combining our business with UGC would allow us to accelerate this development.”
“This transaction demonstrates the group’s commitment to cinema and theatrical exhibition, which play an essential role in the presentation and improvement of the value of the films”, Saada, stressing that “Canal + has, since its creation in 1984, the number one and the supporter of French and European cinema. UGC.
The signing of the agreement will be submitted, if necessary, to “the information and consultation of employee representative organizations,” said Canal + in his press release.
Several other companies, including the detention of the co-founder of Mediawan, Xavier Niel, would have been in the running to buy UGC.
