Last September, Canal+ agreed to buy a 70% majority stake in SPI International while keeping the current management team and operational structure in place.
Vivendi-owned pay-TV operator Canal+ Group has completed the acquisition of international channel provider SPI International, following the approvals of all competent authorities in all European jurisdictions concerned for its acquisition of 70% control of the outfit.
A statement released by the parties said that “SPI International, a global media company who has a significant presence in Europe with extensive experience in content distribution and worldwide broadcasting, will bring to Canal+ Group great opportunities to strengthen pay-TV offers in all European markets and develop new ranges of services for the benefit of customers worldwide”.
It added: “Canal+ Group is pleased that SPI International will continue their worldwide expansion while developing their operations in a way that benefits the entire group”.
SPI operates 42 TV channels across six continents. Its brands include FilmBox, Film1, Kino Polska and Turkish drama offering Dizi. Founders Loni Farhi and Berk Uziyel will continue to steer the company, with the current management team and operational structure remaining intact, the companies said.
Canal+ announced in September that it had struck a deal to take a 70% stake in SPI international. SPI International founder Loni Farhi and CEO Berk Uziyel will continue to manage the business.
“The acquisition of SPI International is a is part of the strategy we have been implementing for several years Canal+ currently has 22 million subscribers in over 40 countries, including 15 in Europe. We have set ourselves the goal of reaching a minimum of 30m subscribers by 2025, and SPI International will certainly be a key asset in achieving this ambition,” said Canal+ Group Chief Maxime Saada when the deal was initially announced.