Canal Plus shows its sporty side

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PARIS -- Gallic pay TV group Canal Plus is launching a subsidiary dedicated to the organization of athletic events and the acquisition of Occade Sport, the group said Wednesday.

Occade Sport, a Lyon-based sports events organization company founded in 1997, will be part of the new Canal Plus Events label. "The objective is to reinforce Canal Plus' presence in the world of sports and to develop its activities in the production of athletic events through the acquisition of a recognized player in the industry," the group said.

The deal will be finalized in February at the latest and will entitle Canal Plus to 100% of Occade Sports, including its top shareholder Gones & Sports. Gilles Moretton will continue to run Occade, which will fall under Canal Plus' sports division headed by Alexandre Bompard.
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