Telenor and Canal+ Sign Agreement on Canal Digital AS
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Telenor and Canal+ sign agreement on Canal Digital AS The Canal + Group and Telenor have decided to reorganise the relationship in the Nordic countries. Telenor has acquired the remaining 50% stake in Canal Digital AS from Canal+ for a consideration of NOK 2.4 billion (approx. EUR 300 million), of which NOK 500 million (approx. EUR 63 million) is a deferred payment. Canal+ and Telenor have also signed a long-term exclusive distribution agreement for Canal+' premium pay-TV channels and the Kiosk pay-per-view service on Canal Digital's platform. After the acquisition Telenor is sole owner of Canal Digital, which broadcasts public-service- broadcasters to approximately 1.000.000 paying households via Telenors satellites to the Nordic region. Of these, 480.000 subscribe to additional basic and premium pay-TV channels. The fulfilment of the agreement is dependent on approval from relevant governmental authorities. Through this agreement, Telenor confirms its role in TV distribution in the Nordic area while Canal+ focuses on its expertise in providing superior premium programming. Canal+ Technologies will continue servicing Canal Digital with its interactive TV technology and with a migration path to the DVB- MHP standard. "Canal Digital is important to Telenor's strategy as regards our provision of pay-TV services in the Nordic area", says Tormod Hermansen, CEO of Telenor ASA. "In a digital world, Telenor will provide the customer with excellent programmes and interactive services utilising our technical infrastructure. The Canal+ channels are an important part of Canal Digitals programming offer, and this agreement ensures the continuation of distribution of the Canal+ channels as of today." "We believe that the Canal+ channels will be a key driver in the development of the Canal Digital platform. Our agreement with Telenor Broadband Services will ensure the long-term successful growth of our premium channels and strongly positions Canal+ as an important provider of superior programming to the Nordic digital TV platform", says Marc-André Feffer, Deputy Chairman of Canal+ Group. Canal Digital AS was established in 1997, as a 50/50 joint venture between Telenor and Filmnet (later acquired by Canal+). Canal Digital broadcasts public-service-broadcasters to approximately 1.000.000 paying households via Telenors satellites to the Nordic region. Of these, 480.000 subscribe to additional basic and premium pay-TV channels such as: Canal+, Canal+ Yellow, Canal+ Blue, CNN, BBC World, Eurosport, MTV, National Geographic Channel, and many more. Telenor ASA is an international provider of high quality telecommunications, data and media communication services, with a particularly strong focus on mobile, internet, telephony and broadband services. Headquartered in Oslo, Norway, the company is present in more than 30 countries, has more than 21,000 employees, and had revenues of NOK 37.6 billion in 2000 (EUR 4.6 billion). Telenor Broadband Services AS is one of four core business areas in Telenor. Telenor Broadband Services is the leading distributor of pay-TV and TV-based broadband services in the Nordic region. In 2000 Telenor Broadband Services had annual revenue of approximately NOK 3.5 billion (EUR 425 Telenor Group is one of the world's major mobile operators. We keep our customers connected in our markets across Scandinavia and Asia. Our more than 30,000 employees are committed to responsible business conduct and being our customers' favourite partner in digital life. Connecting the world has been Telenor's domain for more than 160 years, and we are driven by a singular vision: to empower societies. million). Canal+ Group, the TV & Film division of Vivendi Universal, the world's second largest media and communications group, is Europe's largest operator of pay-TV channels and services and a global company in TV and film production and distribution. The company, based in Paris, is the producer of 14 premium Canal+ channels across Continental Europe and of more than 30 theme channels, with a total of 15.6 million subscriptions, out of which 5.7 million digital subscribers. Canal+ Group is also an international supplier of software solutions for digital television. Canal+ Television AB operates pay-TV services in Sweden, Norway, Denmark and Finland. It is the leading popular premium pay-TV operator in the Nordic market with 600.000 subscribers, offering an exclusive diet of international and local movies, as well as exclusive sporting events, including Swedish soccer (Allsvenskan), ice hockey (Eliteserien) and English Premier League. Important disclaimer This press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations or beliefs and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. The following factors, among others, could cause actual results to differ materially from those described in the forward-looking statements: failure to obtain the necessary governmental approvals; inability to identify, develop and achieve success for new products, services and technologies; increased competition and its effect on pricing, spending, third-party relationships and revenue; inability to establish and maintain relationships with commerce, advertising, marketing, technology, and content providers. Vivendi Universal and Groupe Canal + do not have, nor do they undertake any obligation to provide updates or to revise any forward-looking statements. Investors and security holders may obtain a free copy of documents filed by Vivendi Universal with the U.S. Securities and Exchange Commission at www.sec.gov or directly from Vivendi Universal. Telenor Group is one of the world's major mobile operators. We keep our customers connected in our markets across Scandinavia and Asia. Our more than 30,000 employees are committed to responsible business conduct and being our customers' favourite partner in digital life. Connecting the world has been Telenor's domain for more than 160 years, and we are driven by a singular vision: to empower societies. Powered by TCPDF (www.tcpdf.org).