Canal+ partially blamed the withdrawal of its C8 channel for the choice, which got here after France’s broadcast regulator pulled its licence.
The French media firm Canal+, owned by Vivendi, will take its paid channels off terrestrial TV in France, efficient from June 2025.
In a press assertion printed on Thursday night, the group blamed “an more and more restrictive tax and regulatory setting” – and highlighted the lack of its C8 channel from terrestrial TV.
The French broadcast regulator, Arcom, refused to resume a licence for C8 earlier this yr.
This got here after the leisure channel racked up €7.6m in fines for breaching broadcasting requirements, many linked to controversial remarks from presenter Cyril Hanouna.
On the tax entrance, in the meantime, Canal+ flagged two complaints. One is linked to VAT and the opposite over an alleged enhance within the levy it pays to CNC, France’s nationwide cinema centre.
The federal government desires to exempt a few of Canal+’s actions from the diminished 10% VAT charge, utilized to cultural items and providers.
The decrease levy is designed to make cultural choices extra inexpensive, though the state argues a few of Canal+’s providers ought to be taxed at 20%.
This might value Canal+ an adjustment price of €655.6m.
Gradual withdrawal from terrestrial TV
Some business voices have contested Canal+’s acknowledged motivations, as a substitute suggesting that the departure from terrestrial TV has been a long-term plan.
CEO Maxime Saada has tactically hovered in his help for terrestrial TV, though he has progressively diminished Canal+’s renewal period for its terrestrial licence.
In 2023, Saada diminished the validity interval for the licence from three years to 18 months.
Canal+ estimates that it nonetheless has 70,000 terrestrial subscribers.
Thursday’s announcement additionally arrived simply forward of Canal+’s plans to listing on the London Inventory Trade later this month.
The agency is anticipated to have a market capitalisation of between €6bn and €8bn.
That might make it the biggest main itemizing in London since 2022.