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Canal+ chief executive Maxime Saada has promised Paddington Bear will not be Americanised for US audiences. The French streaming company, which owns the film rights to the iconic British bear, began trading on the London Stock Exchange on Monday. The British bear’s heritage will be preserved, Saada said. Canal+ is being spun off from the Vivendi media stable and is said to be planning further global expansion from its new London base. Canal+ operates in 50 countries, with 27 million subscribers, two thirds of which are outside France.
Recently, feedback from American companies provided that Paddington the bear was not “American enough”, and to maximise the Paddington box office, an American movie could have been made. Saada refused to compromise the bear’s authentic heritage, and said the bear is Canal+’s most prized intellectual property, being “very careful about being very close to its roots and authentic.” The company owns streaming hits Versailles, as well as movies such as Total Recall, the Shaun the Sheep and Bridget Jones franchises, and the Amy Winehouse biopic, Back to Black, as well as three movies featuring Paddington Bear.
The latest Paddington movie shows the bear and his adopted British family returning to his roots in Peru amid mishaps. Canal+ is reportedly working on a follow-up and an animated series. Its London listing is regarded as a vote of confidence in the London market, which has struggled to attract new businesses in recent years. Other firms have chosen to depart or go private. A thriving stock market is important for boosting the economy because it helps businesses raise money allowing them to sell shares, with the funds used to borrow, invest in new projects, create jobs and expand, driving economic growth.
Saada said LSE flexibility and the UK’s strong creative industry played a role in persuading him to choose London for Canal+’s new location. Earlier this year, the UK’s takeover regulator suggested that it would change its rules to allow special-purpose acquisition companies (SPACs) to list in the country. Many US SPACs want to buy targets in the UK, but Transport for London and the London Stock Exchange are proving difficult to navigate
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