Canal+/Asia: a partnership with PCCW to acquire a minority stake in the OTT platform Viu ($300m)

Canal+ has entered into a strategic partnership with the Hong Kong telecommunications group PCCW in order "to accelerate the growth of Viu, a leading pan-regional OTT video service with presence across Asia, the Middle East, and South Africa," announced the free and pay-TV television group on 21/06/2023.

"As a result of the transaction, Canal+ will become a significant minority shareholder in Viu through a staggered investment of $300m (€264m) which includes an initial investment of $200m (€183m) resulting in Canal+ holding a 26,1% stake in Viu. In addition to the $300m, a further investment, at Canal+ option, could result in an increase of Canal+’s stake in Viu to 51%," said the group.

The OTT platform Viu had a total of "over 66 million monthly active users and 12 million paid subscribers" as of December 2022, according to Canal+. "In 2022, Viu recorded over $250m (€229m) in revenue, representing a growth of 36% year over year."

"Canal+ is taking a major step in developing Asia as its next growth engine" (Canal+)

• "Partnering with Canal+ as an important strategic investor is a…