Vivendi Chairman Vincent Bollore is reportedly to step down as head of the firm’s Canal Plus TV arm, according to Bloomberg sources.
Bollore became Chairman of Canal Plus nine months ago, and is said to be relinquishing that title before September.
Based in Europe, Canal Plus has six pay TV channels and produces films and TV shows.
Last month, Bollore raised questions over the future of the firm, saying its channels would fold if escalating losses continued.
He claimed those are on course to reach €400 million in 2016.
However, during a hearing over a denial by the anti-trust board to allow a distribution deal with Al Jazeera’s BeIN Sports on Wednesday, he seemed to have renewed faith.
Vivendi Deputy CEO Arnaud de Puyfontaine could replace Bollore as Canal Plus Chairman, according to French newspaper Le Figaro.
Vivendi’s other major business is Universal Music Group.
MBW understands that Bollore has maintained a close relationship with the label’s head, Lucian Grainge, and was instrumental in his contract renewal last year.
Will leaving behind his Chairman role at Canal Plus leave Bollore more time to concentrate on UMG?
Music Business Worldwide