Canal+ owner Vivendi is considering splitting the company into three separate entities, each of which would be listed on the stock market.
The French media giant is blaming the markets which it says has “substantially” reduced its valuation since the spin-off of Universal Music Group in 2021. “Canal+, Havas and Lagardère are currently experiencing strong growth in an international context marked by numerous investment opportunities,” read a company statement.
The Supervisory Board has given approval to Vivendi management for the project that would separate the company, providing there us added value for stakeholders.
Canal+ Group would represent one of the entities; in recent years it has become the leading light of Vivendi, representing a subscriber base of over 25 million in nearly 50 countries. Following the acquisitions of M7 and SPI, the company has taken strategic stakes in businesses such as Multichoice, VIU, and Viaplay.
Canal would sit alongside advertising and communications company Havas and an investment company that would hold Vivendi’s stakes in businesses including the majority stake in publishing company Lagardère.
