CNN Romances Canal Plus for a Stake in French News Channel

25 October 2001

French language news channel i-Television, owned by Vivendi Universal’s pay-TV unit Canal Plus, is the latest object of CNN’s commercial ambitions.

Canal Plus confirmed Wednesday that the American news broadcaster, part of the AOL Time Warner empire, is eager to expand its European operations via a large minority stake in the French all-news channel.

Although the idea has considerable appeal to Vivendi’s money men – i-Television has been burning cash at a potentially terminal rate since its launch last year – Canal Plus management and those at the news-gathering coalface are believed to oppose a deal with the global Goliath, seen by many in Europe as a propagandist for US foreign policy.

News source: AdAge Global