Canal Plus in Talks to Buy GTV, according to Le Figaro

Investment

Vivendi SA’s pay-television unit Canal Plus is in talks to buy pay-TV operator GTV which is seeking as much as $100 million for the pay-TV company, Le Figaro said.

GTV has 100,000 subscribers in sub-Saharan Africa, compared with 3 million for its competitor Multichoice.

The South African pay TV operator had sales in the last quarter of about $10 million and a loss of $30,000, and needs 400,000 subscribers to reach breakeven, Le Figaro said.

Canal Plus Overseas is the biggest pay-TV operator in French-speaking Africa, and the purchase of GTV would add an English-language business, according to the newspaper.

http://www.bloomberg.com