COMPANY PRESS RELEASE: Less than four months after first announcing their alliance, Canal+ Group, the TV & Film division of Vivendi Universal, and United Pan-Europe Communications N.V have signed the definitive agreement to merge their Cyfra+ and Wizja TV satellite television platforms in Poland, as well as the CANAL+ Polska premium channel.
Originally scheduled for the end of the year, today’s signature was the last step in the merger. The process was completed earlier than expected thanks to close and active cooperation between the two partners once the Polish anti-trust authorities approved the merger on 13th November 2001.
The new joint platform, owned 75% by CANAL+ Group and 25% by UPC, will be launched in the first quarter of 2002. It will offer a broader and more diversified satellite TV lineup to Polish viewers. Building on a base of more than 700,000 subscribers, the platform should reach the cash breakeven targets and achieve the critical size necessary to achieve profitability quickly.