French Ellipse & Expand Form New Euro TV Company
Created 02/15/2000 - 00:00
files/pictures/picture-35.jpgExpand Images and Ellipse Programme, France's two leading television
production companies, announced on February 10, 2000 plans to merge. The
new studio, entitled Expand, will have an approximate revenue for 2000 of
FRF1.4 billion (US$210.2 million). The deal will enable both parties to
increase their international content output for the expanding European
market. As part of the deal, CANAL+ Images and Finexpand signed an
agreement solidifying their relationship as shareholders in the new studio.
The merger still needs shareholder approval to be finalized before a new
offering of stock will be available. Following approval, Expand Images will
buy all outstanding shares of Ellipse in exchange for new Expand shares.
There upon, CANAL+ Images will own 35% interest in Expand, with 28% voting
rights, and Finexpand and Expand management will own 24%, with 37% of the
voting rights. The new business will have a strong hold on top animated
productions which currently include BABAR, BOB MORANE, BECASSINE,
FANTOMETTE, TINTIN and PRINCESSE SHEHERAZADE among others. In addition to
their strong animation line-up, the new company will be a leader in the
production of adventure game shows, traditional game shows, clip-based
entertainment shows, TV drama series, TV magazines and documentaries.
Expand will be headed by a four member committee comprised of co-chairman
Philippe Polret and Patrick Wallaert, Pierre Bertrand-Jaume and Dominique