Canal Plus to Sell Stake in Sports Channels

Canal Plus, the pay-TV unit of French media group Vivendi Universal, on Tuesday confirmed plans to divest its stake in sports channels Eurosport and Eurosport France and to launch a rival sports channel. The French pay-TV unit holds a 49.5% stake in Eurosport, while its French rival, channel Television Francaise 1, owns the rest and is considered to be the likely buyer. Eurosport is the biggest European cable sports channel, claiming 30 million subscribers. Canal Plus also plans to sell its 39% stake in Eurosport France, which is the French-language version of Eurosport. Other owners of that channel are TF1, with 36%, and Havas Image, a unit of Vivendi Universal’s publishing arm, with 25%.