ITALY / Vivendi wants to create an Italian Canal Plus

By leaning on Telecom Italia, of which it owns 23.9 %, Vivendi wants to launch an Italian version of its pay channel Canal Plus.

According to Reuters, Vivendi and Telecom Italia will work together to launch a channel run by a “joint venture acquiring broadcasting rights and producing films and series”. Named Canale Plus, it will be based on the same principles as its French parent: exclusive content, and schedules focused on drama and sport. The Italian telecoms operator will be the majority share-holder of this joint venture, which will rely as much on buying broadcasting rights as on producing its own content.

This new Vivendi project fits in with its twin strategies of bringing media and telecoms together and becoming a major European player in broadcasting.

This information from Reuters came at the same time as the formal announcement that Telecom Italia’s current CEO, Flavio Cattaneo, was leaving the company. He left his post on July 28^th with a record compensation of €25 million, having been chair of Telecom Italia for only 16 months. As far as the Italian group is concerned, his departure is not due to a conflict with either the government or Vivendi, but to “significant results achieved in advance of Telecom Italia’s strategic plan”.

According to AFP, Flavio Cattaneo will be replaced by a triumvirate composed of Amos Genish (Head of convergence at Vivendi), Giuseppe Recchi (Vice-Chairman of Telecom Italia) and Arnaud de Puyfontaine (Chair of Vivendi’s Management Board and executive chair of Telecom Italia).

Sources: Reuters, AFP, Zone Bourse, Le Point, La Tribune