French TV company Canal+ acquires 70% stake in media group SPI International

SPI International operates 72 TV channels

  
image used for illustrative purpose. Traders work at their desks in a trading room at the stock market operator Euronext headquarters in La Defense business and financial district in Courbevoie near Paris, June 8, 2016.

image used for illustrative purpose. Traders work at their desks in a trading room at the stock market operator Euronext headquarters in La Defense business and financial district in Courbevoie near Paris, June 8, 2016.

REUTERS/Gonzalo Fuentes

PARIS - French television company Canal+ said on Tuesday that it had acquired a 70% stake in media company SPI International, a global media company operating 72 TV channels.

"We have set ourselves the goal of reaching a minimum of 30 million subscribers by 2025, and SPI International will certainly be a key asset in achieving this ambition,” Canal+ CEO Maxime Saada said in a statement.

The financial details behind the transaction were not disclosed.

(Reporting by Matthieu Protard; Editing by Sudip Kar-Gupta) ((matthieu.protard@thomsonreuters.com; +33-1-80981237;))


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