What was supposed to be a “yes,” will ultimately be a “loud and clear no,” according to Cyril Lacarrière of L’OPINION. Multiple sources have said that the French Competition Authority “vetoed the exclusive broadcasting agreement between Canal+ and beIN Sports.” Canal+ parent company Vivendi Chair Vincent Bolloré has said that the deal was “a key strategic element of the pay-TV group’s future.” Trying to “see the positive in the situation” a Vivendi official said, “This is a bad idea that will turn into good business.” Vivendi was to pay €1.5B ($1.7B) to beIN Sports “for the right to exclusively broadcast its content.” The Competition Authority “refused to comment when contacted.” The first talks between the companies took place in Oct. ’15. The rejection of the deal “will force both companies to find other sources of growth.” For beIN Sports, it will “need to stem the year-on-year debts that it has been accumulating.” For Canal+, it will “need to reconnect with its subscribers that are deserting the channel in massive numbers” (L'OPINION, 6/9).
