In a recognition of the competitive dynamics in the current audio-visual sector, telco Orange has signed a memorandum of understanding with the Canal+ Group for the sale of its OCS pay-TV business and film and series co-production subsidiary Orange Studio.
The MOU anticipates the acquisition by the Canal+ Group of all capital held by Orange and aims to see the Canal+ Group become the sole shareholder of the two companies following this transaction.
Launched in 2008, OCS underwent a rebrand to TV movie bouquet Orange Cinéma Series OCS combining five pay-TV channels OCS max, OCS happy, OCS choc, OCS novo and OCS géants. Orange Studio has more than 200 co-productions to its credit as well as a catalogue of nearly 1,800 audio-visual and cinematographic works, including Oscar-winning and emblematic films such as The Artist or The Father.
Since creation, Orange has worked to ensure the continued development of the two subsidiaries while preserving jobs and the pre-financing of audio-visual content. Orange says that to ensure these objectives, entered discussions with the Canal+ Group, its loing standing partner and a recognised European leader in the creation and distribution of content. Canal+ is already a 33.34% shareholder of OCS since 2012 and is its leading distributor.
The acquisition will now be presented to employee representative bodies and will be notified to the French Competition Authority.
Launched in 2008, OCS underwent a rebrand to TV movie bouquet Orange Cinéma Series OCS combining five pay-TV channels OCS max, OCS happy, OCS choc, OCS novo and OCS géants. Orange Studio has more than 200 co-productions to its credit as well as a catalogue of nearly 1,800 audio-visual and cinematographic works, including Oscar-winning and emblematic films such as The Artist or The Father.
Since creation, Orange has worked to ensure the continued development of the two subsidiaries while preserving jobs and the pre-financing of audio-visual content. Orange says that to ensure these objectives, entered discussions with the Canal+ Group, its loing standing partner and a recognised European leader in the creation and distribution of content. Canal+ is already a 33.34% shareholder of OCS since 2012 and is its leading distributor.
The acquisition will now be presented to employee representative bodies and will be notified to the French Competition Authority.
