Canal +'s proposed acquisition of UGC: "This does not appear to be a hostile takeover; the two companies are cooperating."

A 34% stake, followed by a possible full takeover in 2028. On the evening of Tuesday, September 2, the Canal + group, owned by Vincent Bolloré, announced that it had entered into exclusive negotiations to take control of the cinema operator, producer, and distributor UGC. The company has 55 cinemas in France and Belgium, for a total of 584 screens. With this transaction, the amount of which has not been disclosed, Canal + is acquiring "a long-standing strategic partner," according to Maxime Saada, its chairman of the board. The group, already the leading financier of French cinema, is thus placing its pawns across the entire film production and distribution chain. It also intends to accelerate the development of its in-house studio, StudioCanal.

This major upheaval for the French film industry comes just months after another major move by UGC's main competitor and industry leader, the Pathé group. In June, billionaire Rodolphe Saadé announced he was acquiring a 20% stake in the company, which had previously remained exclusively family-owned and led by Jérôme Seydoux.