Canal+, a subsidiary of Vivendi, and Orange announced Monday that they have signed an agreement for the French telecommunications group to sell its OCS pay-TV service and film studio.

"Orange and the CANAL+ Group today announced the signing of a memorandum of understanding for the acquisition by the CANAL+ Group of all the shares held by Orange in the OCS pay-TV bouquet and in Orange Studio, the film and series co-production subsidiary," said the two companies in a joint statement.

The transaction is subject to information and consultation with employee representative bodies, and will be notified to the French Competition Authority, the companies added.

OCS, the second largest pay-TV service in France after Canal+, was known for distributing previously unreleased HBO series in France, including the blockbuster "Game of Thrones", but the contract with the American TV channel ended on December 31, 2022.

(Written by Kate Entringer, edited by Blandine Hénault)