Canal+ SA on Monday pledged to invest €480 million over three years into French cinema.

The Paris-based media and telecommunications conglomerate said the investment would be split between €150 million in 2025, €160 million in 2026 and €170 million in 2027.

The agreement concerns Canal+ and Cine + OCS and allows them to broadcast films as early as six months after their release. It takes effect retroactively from January 1 for a period of 3 years and is renewable.

Canal+ is also increasing its commitment to diversity films - films with a budget less than €4 million.

Shares in Canal+ closed down slightly at 173.95 pence each in London on Monday.

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