PCCW and Canal+ have announced a strategic partnership through which the French media giant will become a significant minority shareholder in PCCW’s Asian streaming service Viu.
Canal+ will make a staggered investment of $300M in Viu, including an initial investment of $200M, resulting in a 26.1% stake.
It also has an option to make a further investment and turn that stake into a controlling 51%. In a statement, Canal+ talked expansion opportunities and plans to collaborate with Viu on premium production: “This new strategic partnership will enable the further growth of Viu, leveraging the global strength and expertise of Canal+ through various initiatives including collaboration on premium productions and content creation, expansion of global market reach for Viu, and continual user experience improvement.
The partnership will allow Canal+ to take a major step in developing Asia as its next growth engine.” Viu is one of Asia’s leading streamers with more than 66 million monthly active users (MAU) and 12 million paid subscribers across Asia, the Middle East and South Africa.
Read more on deadline.com
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