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French TV company Canal+ acquires 70% stake in media group SPI International

Reuters

PARIS (Reuters) - French television company Canal+ said on Tuesday that it had acquired a 70% stake in media company SPI International, a global media company operating 72 TV channels.

"We have set ourselves the goal of reaching a minimum of 30 million subscribers by 2025, and SPI International will certainly be a key asset in achieving this ambition,” Canal+ CEO Maxime Saada said in a statement.

The financial details behind the transaction were not disclosed.

(Reporting by Matthieu Protard; Editing by Sudip Kar-Gupta)