Canal’s new ‘Net gain

French paybox plunges into New Media

PARIS — French paybox Canal Plus will set up an Internet subsidiary called Canal New Media in September and is looking for partners before floating the company on the Paris stock exchange.

Canal Plus chairman Pierre Lescure announced the creation of the subsidiary at the Communication University media gathering outside Bordeaux on Thursday. He said Canal New Media will be headed by Alex Berger, who has been Lescure’s chief adviser for several years.

E-commerce and ads

Canal Plus launched its own Web site, cplus.fr, four years ago and is also partnered with its main backer, Vivendi, as majority shareholders in Internet access provider AOL France.

With pay TV outlets in 11 countries, Canal Plus now wants to federate its different national Web sites in order to provide a pan-European market for e-commerce and advertising. Based in Paris, Canal New Media will coordinate the group’s online businesses.

News of the upcoming launch comes amid increased speculation that the French giant is about to announce new partners in its Italian subsid Telepiu.

Stakes for sale?

Canal Plus owns 99% of Telepiu, although Italian pubcaster RAI has an option to take 10%. Unconfirmed reports suggest Canal Plus international senior exec VP Michel Thoulouze, is about to announce that a collection of Italian electricity, telecom and institutional companies are ready to acquire around 40% of Telepiu.

Analysts have been expecting the move for several months. Canal Plus’ three-year financial plan calls for breakeven this year and a return to profits of around $160 million in 2000. It is widely believed that the profit target can’t be hit if the French group maintains 90% of Telepiu.

More Digital

  • YouTube’s New Premium Music Service: Is

    YouTube’s New Premium Music Service: Is It Worth It?

    PARIS — French paybox Canal Plus will set up an Internet subsidiary called Canal New Media in September and is looking for partners before floating the company on the Paris stock exchange. Canal Plus chairman Pierre Lescure announced the creation of the subsidiary at the Communication University media gathering outside Bordeaux on Thursday. He said […]

  • Is Spotify Walking Back Its Anti-Hate

    Is Spotify Walking Back Its Anti-Hate Policy?

    PARIS — French paybox Canal Plus will set up an Internet subsidiary called Canal New Media in September and is looking for partners before floating the company on the Paris stock exchange. Canal Plus chairman Pierre Lescure announced the creation of the subsidiary at the Communication University media gathering outside Bordeaux on Thursday. He said […]

  • YouTube logo

    YouTube Test to Sort Subscription Feeds in Non-Chronological Order Triggers Creator Backlash

    PARIS — French paybox Canal Plus will set up an Internet subsidiary called Canal New Media in September and is looking for partners before floating the company on the Paris stock exchange. Canal Plus chairman Pierre Lescure announced the creation of the subsidiary at the Communication University media gathering outside Bordeaux on Thursday. He said […]

  • Iskra Lawrence

    Model Iskra Lawrence to Host 'Mirror Challenge' Docu-Series on Facebook Watch

    PARIS — French paybox Canal Plus will set up an Internet subsidiary called Canal New Media in September and is looking for partners before floating the company on the Paris stock exchange. Canal Plus chairman Pierre Lescure announced the creation of the subsidiary at the Communication University media gathering outside Bordeaux on Thursday. He said […]

  • Facebook Logo

    Facebook Starts Labeling Political Ads in the U.S.

    PARIS — French paybox Canal Plus will set up an Internet subsidiary called Canal New Media in September and is looking for partners before floating the company on the Paris stock exchange. Canal Plus chairman Pierre Lescure announced the creation of the subsidiary at the Communication University media gathering outside Bordeaux on Thursday. He said […]

  • vrcx_bg

    Oculus Go Porn: Adult Industry Has High Hopes for Facebook’s New VR Headset

    PARIS — French paybox Canal Plus will set up an Internet subsidiary called Canal New Media in September and is looking for partners before floating the company on the Paris stock exchange. Canal Plus chairman Pierre Lescure announced the creation of the subsidiary at the Communication University media gathering outside Bordeaux on Thursday. He said […]

  • Movistar +, Netflix, Set Carriage Partnership

    Movistar +, Netflix Strike Carriage Partnership

    PARIS — French paybox Canal Plus will set up an Internet subsidiary called Canal New Media in September and is looking for partners before floating the company on the Paris stock exchange. Canal Plus chairman Pierre Lescure announced the creation of the subsidiary at the Communication University media gathering outside Bordeaux on Thursday. He said […]

More From Our Brands

Access exclusive content