Canal Plus is to become a minority shareholder in the Orange Cinema Series channels, abandoning earlier plans to enter a 50/50 joint venture in TPS Star.
The new process does not require the involvement of the competition authorities.
Under the previous plan, announced in January, the business was to have been managed equally by the two partners. Canal+ was to have been responsible for production while Orange would provide interactive and distribution services.
According to La Tribune, the new deal was hammered out between Bertrand Meheut and Stéphane Richard at the Cannes Film Festival in mid-May.
By reducing the amount of competition between the two operators there is less likelihood that the arrangement will be seen as anti-competitive.
