French TV heavyweight Canal Plus has officially increased its shareholding in Viu, the over-the-top (OTT) streaming platform owned by Hong Kong-based telecommunications group PCCW, to 30%.
This is per the original deal between Canal Plus and Viu, from June last year, in which an initial stake of 26.1% in Viu was taken and $200 million of investment was agreed. That deal also included Canal Plus guaranteeing another $100 million of investment at a later date – as has now been unveiled.
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Canal Plus has said this next tranche of funding represents “Canal+ Group’s confidence in Viu and its team and commitment to developing Asia as its next growth engine.”
Canal Plus also has the option to eventually increase its Viu shareholding to a majority of 51% through further investment.
ViuTV, the entertainment channel also owned by PCCW, held rights in Hong Kong to soccer's 2022 FIFA World Cup and the Tokyo 2020 Olympic and Paralympic Games.
It is currently available in 16 countries, including across Southeast Asia, the Middle East, and South Africa.
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By GlobalDataIn June, Vivendi-owned Canal Plus said it would use the tie-up to take “a major step” in developing Asia as its next growth market.
Canal Plus already has a presence in Vietnam and last year acquired exclusive media rights to all competitions run by the Asian Football Confederation (AFC) governing body covering the 2025-28 cycle.
In terms of its other stakes, meanwhile, earlier this month Canal Plus officially increased its holding in European media heavyweight Viaplay (which is still facing significant financial challenges) to 29%.
Canal Plus, which helps to distribute Viaplay in European regions such as Poland and Austria through its regional networks, purchased its initial 12% stake in Viaplay in July 2023.
In addition, the broadcaster had a recent takeover bid for MultiChoice, the prominent pay-TV operator in sub-Saharan Africa, rejected. Canal Plus currently owns 31.7% of that entity and had wanted to take full control.
MultiChoice, however, has turned down the bid.
