{"id":25365,"date":"2023-06-21T05:55:46","date_gmt":"2023-06-21T09:55:46","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/hong-kong-billionaire-richard-lis-streaming-platform-viu-sells-200-million-stake-to-canal\/"},"modified":"2023-06-21T05:55:48","modified_gmt":"2023-06-21T09:55:48","slug":"hong-kong-billionaire-richard-lis-streaming-platform-viu-sells-200-million-stake-to-canal","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=25365","title":{"rendered":"Hong Kong Billionaire Richard Li\u2019s Streaming Platform Viu Sells $200 Million Stake To Canal+"},"content":{"rendered":"
\n

Viu, the video streaming unit of Hong Kong billionaire Richard Li\u2019s PCCW, is selling a 26.1% stake for up to $300 million to Canal+, the pay-TV group controlled by French billionaire Vincent Bollor\u00e9\u2019s media conglomerate Vivendi.<\/p>\n

Canal+ has made an initial payment of $200 million for the stake, the two companies said in a statement on Wednesday. The equity investment could reach $300 million if certain financial targets are met. Following the transaction, Canal+ will have the option to increase its stake in Viu to 51%, according to the statement.<\/p>\n

The deal will enable Viu to grow its content offerings, user base and global footprint, while allowing Canal+ to expand its presence in Asia. Canal+\u2019s current subscribers are mainly based in France and Africa.<\/p>\n

\u201cWe are very pleased to embark on a partnership with Canal+ to take Viu to the next level with the prospect of global synergies coming from both Canal+ and PCCW,\u201d Susanna Hui, PCCW\u2019s acting group managing director, said in the statement.<\/p>\n

<\/fbs-ad><\/p>\n

\u201cWith Viu having established its leadership as a pan-regional streaming service, we believe this is the right time to introduce a strategic partner into the business that would see us furthering our global expansion and growth by unleashing the potential of the Viu business at scale and to create further value for our shareholders,\u201d she added.<\/p>\n

Viu was launched in 2015 under PCCW, Li\u2019s flagship telecommunications, media and technology conglomerate. It has since grown to become one of the leading video streaming platforms in Southeast Asia, with offerings of Korean and original content. The company said it has attracted 12.2 million paid subscribers and 66.4 million monthly active users across Asia, the Middle East and South Africa during 2022.<\/p>\n

Viu is headed by Janice Lee, who made Forbes Asia\u2019s Power Businesswomen list in 2021. Viu overtook Netflix in 2021 to become the second-largest streaming service by paying subscribers in Asia, behind only Disney+, according to researcher Media Partners Asia.<\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Viu, the video streaming unit of Hong Kong billionaire Richard Li\u2019s PCCW, is selling a 26.1% stake for up to $300 million to Canal+, the pay-TV group controlled by French billionaire Vincent Bollor\u00e9\u2019s media conglomerate Vivendi. Canal+ has made an initial payment of $200 million for the stake, the two companies said in a statement […]<\/p>\n","protected":false},"author":1,"featured_media":25366,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-25365","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investing","tag-featured"],"yoast_head":"\nHong Kong Billionaire Richard Li\u2019s Streaming Platform Viu Sells $200 Million Stake To Canal+ | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Viu, the video streaming unit of Hong Kong billionaire Richard Li\u2019s PCCW, is selling a 26.1% stake for up to $300 million to Canal+, the pay-TV group\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=25365\" 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