Canal+ Increases Stake in Viu, Eyes Majority Ownership of Asian Streamer – Global Bulletin
20.06.2024 - 09:37
/ variety.com
Patrick Frater Asia Bureau Chief France’s Canal+ Group has increased its stake in multi-territory Asian video streamer Viu to 36.8%. It says that the move is in accordance with the terms of the strategic partnership with Viu owner PCCW Group announced a year ago and follows the satisfaction of key business milestones.
The move is the second time that Canal+ has increased its share stake and means that Canal+ has released the last instalment of its $300 million staggered investment. “This investment is a renewed testimony to Canal+’s commitment to develop Asia as one of the group’s growth engines and underlines Canal+’s confidence in Viu and its team,” the French company said in a statement.
A further investment, at Canal+’s discretion, could lift its ownership stake in Viu to 51%. Days after the completion of the festival, “The Moogai” was revealed as the winner of the audience award for best Australian feature at the Sydney Film Festival.
Directed by Jon Bell and adapted from an earlier short film, “The Moogai” combines chilling elements of psychological horror with disturbing history. Mohammad Rasoulof’s “The Seed of the Sacred Fig,” which won five awards at Cannes and forced Rasoulof to flee his homeland after the Iranian government sentenced him to flogging and imprisonment for making his film without obtaining a license, was the winner in the international feature category.
Audience awards for documentaries went to Australia’s “Skategoat” and Madeleine Gavin’s “The Home Game.” The festival was completed at the weekend and revealed its juried awards on Sunday. Starlight Culture Entertainment, a Chinese group which operates loss-making film investment businesses in Los Angeles, has asked for more time to complete a
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