BERLIN — Euro TV giant CLT/Ufa has reached an agreement with Canal Plus to buy out the French pay-TV player’s stake in German channel Vox, according to Tuesday’s issue of German daily the Suddeutsche Zeitung.
In return for a 25% stake in Vox, CLT/Ufa will pay Canal Plus $45 million in cash and hand over its $89 million stake in Seca, a company run jointly with Canal Plus that develops decoder and pay TV technologies.
CLT/Ufa recently upped its stake in Vox to nearly 75% by buying out Rupert Murdoch for $342 million.
Closer to goal
The purchase of the Canal Plus stake would bring CLT/Ufa one step closer to forming its desired family of channels in Germany. And it would mean Vox could be used for reruns of programming from the group’s flagship web RTL.
Such a move would boost RTL’s profits by a further $53 million annually, according to an internal paper cited in the report.
Deal is part of a $526 million investment in television activities that CLT/Ufa is currently making, the paper said. A spokesman told Daily Variety late Monday that the companies were in talks but a deal has yet to be signed.