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Merger partners Vivendi and Seagram said Thursday that the Minister of Canadian Heritage and the Minister of Industry in Canada have signed off on their deal, which would also wrap in most of French pay TV giant Canal Plus.

The French audiovisual authority (CSA) has also indicated that it won't oppose the transaction, the companies said.

Nearing fruition

The latest nods are rapidly pushing the media giants toward completing the three-way deal. U.S. antitrust regulators approved the combination some time ago and the European Commission gave its greenlight last week after intense negotiations that resulted in a number of concessions from the partners.

Shareholders of all three companies must still approve the deal, which is expected to close this fall.

Universal Studios parent Seagram is headquartered in Montreal.