Football boost puts Canal Plus on track

摘要

Canal Plus Group, the French pay-television operator owned by Vivendi, is making faster-than-expected progress towards its target of pre-tax profit of ∈1 billion (￡770 million), which it now expects to achieve in 2010 rather than 2011. The recent deal under which Canal Plus won most packages of rights to Ligue 1 football at a lower price than under its previous contract (NMM February 15, 2008) should help boost profitability. It will pay ∈465 million per year instead of €600 million. Vivendi chairman and chief executive Jean-Bernard Levy admitted that the company had faced a "pretty tricky tender offer to secure rights" having publicly committed to paying less.