Vivendi's pay-TV discusses distribution offers with Iliad in France: media
The logo of French TV channel 'Canal Plus' is seen on a microphone used by a TV journalist prior to a French league one soccer match at the Parc des Princes Stadium in Paris, March 5, 2016. REUTERS/Christian Hartmann
Get access to the best calls on Wall Street with StreetInsider.com's Ratings Insider Elite. Get your Free Trial here.
PARIS (Reuters) - Vivendi's pay-TV unit Canal Plus is holding talks with French telecoms firm Iliad about new distribution offers as it tries to stem subscription losses in the country, newspaper Les Echos reported on Tuesday, without citing a source.
Orange, France's number one telecoms operator, and Canal Plus said in July they would announce a new offer dedicated to Orange's premium customers by the end of the year.
Last week, Vivendi announced a 300 million-euro ($335 million) cost savings plan at Canal Plus in France with the aim of reaching breakeven in 2018 in the country.
The group, led by billionaire Vincent Bollore, has suffered from the competition of newcomers such as Netflix and Qatar-controlled beIN Sports channels.
Iliad and Vivendi were not immediately available for comment.
($1 = 0.8956 euros)
(Reporting by Mathieu Rosemain; Editing by Mark Potter)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Tensions rise in Austrian coalition with do-or-die talk
- Deutsche Bank mulls listing asset management unit: sources
- Development bank EBRD readying northern Cyprus plans
Create E-mail Alert Related CategoriesReuters
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!