Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Back in the summer 2006, two French operators of satellite television, Canal+ Canal Satellite and Television by Satellite (TPS) announced their plans to merge in the second half of 2007.
Against this background, on 15 January 2007 the CEO of Canal+ announced at the work's council that the company, currently employing 3,840 people, will cut between 171 and 364 jobs between March 2007 and December 2007.
Canal+ has chosen the Astra satellite system to distribute its premium channel and pay-TV packages following the merger with former rival TPS. Two thirds of the combined entity's subscribers had their satellite dishes pointed towards the Astra satellite. TPS subscribers will have their dishes repointed at the broadcaster's expense. In a statement, Canal + announced that the consolidation will enable it to further develop its high definition services. The transfer will take place in the second half of 2007.
Eurofound (2007), Canal+, Merger/Acquisition in France, factsheet number 64797, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/64797.