Canal+ group has entered into exclusive negotiations to buy 34-percent stake in UGC, the Paris-headquartered film studio that was founded in 1971 and operates one of France’s leading cinema chains.
Following the acquisition of the minority stake, Canal+ would have the option to take full control of UGC starting in 2028.
UGC, which also comprises a vast library and a talent pool, boasts a cinema chain of 55 theaters, including 48 in France and 7 venues in Belgium that are primarily multiplexes. One of their theaters, UGC Ciné Cité Les Halles in Paris is considered the most visited cinema in the world, according to Canal+.
UGC’s library of films include mostly mainstream comedies, such as “Serial Bad Weddings” (pictured), as well as movies such as Jean-Pierre Jeunet’s “Amelie,” and “HPI,” the hit series that’s been remade into “High Potential” by ABC.
Canal+ Group, which has more than 27 million subscribers across 52 countries, has direct theatrical operations in key territories, including France, Germany, the U.K. and Australia/New Zealand, among others. The company produces and distributes around 200 films globally and is behind global hit franchises such as “Paddington” and “Bridget Jones.”
In a statement, Canal+’s CEO Maxime Saada said “the growth of Studiocanal, led by Anna Marsh, is a priority for the Canal+ group, and combining our business with UGC would enable us to accelerate this development.”
“This transaction demonstrates the group’s commitment to Cinema and theatrical exhibition, which play a vital role in showcasing and enhancing the value of films,” Saada, pointing out that “Canal+ has, since its creation in 1984, been the number one partner and supporter of French and European cinema. UGC has built a remarkable network of theatres, an exceptional library of content and outstanding IP. ”
Elsewhere in Europe, Canal+ also have stakes in MultiChoice, the leading pay TV group in English and Portuguese-speaking Africa; Viaplay, Scandinavia’s local streamer; and Viu, a large VOD platform in Southern-Asia.
The signing of the deal with UGC will be subject, if applicable, to “information and consultation of employees’ representative bodies,” said Canal+ in its release.
Several other companies, including the holding of Mediawan co-founder Xavier Niel, are believed to have been in the running to buy UGC.
