Firm owning Paddington rights lists in UK, pledges to safeguard bear’s British identity

The chief executive of the company responsible for the Paddington film franchise has promised that Paddington will not be Americanized for viewers in the United States. Maxime Saada, CEO of Canal+, stated, “This is the most British bear… it has appealed to a lot of people because it is authentic.” This announcement coincides with the French streaming firm, which holds the film rights for the renowned British bear, commencing trading on the London Stock Exchange this Monday. Chancellor Rachel Reeves characterized this development as a “vote of confidence” in the London market, which has faced challenges in drawing new enterprises recently. Canal+ is separating from the Vivendi media group and reportedly intends to pursue additional global expansion initiatives from its newly established London headquarters. Mr. Saada informed the BBC that “We got some feedback from American companies that Paddington the bear is not American enough.” He added, “To maximise the Paddington box office, we could have made an American movie.” However, he affirmed that the British bear’s heritage would be maintained. He emphasized, “This is really our most prized intellectual property… we are very careful about being very close to its roots and authentic.” Canal+ is responsible for streaming successes like Versailles, and its subsidiary StudioCanal possesses the rights to a variety of films, including Total Recall, the Shaun the Sheep and Bridget Jones franchises, and the recent Amy Winehouse biopic, Back to Black, alongside the three movies starring the marmalade-loving bear. The most recent Paddington movie, which premiered last month, depicts the bear and his adopted British family journeying back to his origins in Peru amidst a series of unfortunate events. Mr. Saada stated that Paddington 4 was “certainly not coming tomorrow” but verified that the company is developing a sequel and an animated series. Canal+ conducts operations in 50 nations and serves 27 million subscribers, with two-thirds of them located outside of France. The company’s listing in London follows years of apprehension regarding the exchange’s subdued performance, as evidenced by firms like construction group Ashstead and microchip designer Arm departing to list internationally. Other companies have chosen to become private entities. The London Stock Exchange is projected to experience its highest number of company departures since the financial crisis of 2008-09. Approximately 88 companies have either delisted or moved their primary listing from London’s main market, while only 18 new listings have occurred. Economists assert that a robust stock market is crucial for stimulating the economy, as it facilitates businesses in raising capital through the sale of shares. This mechanism provides companies with the necessary funds to borrow and invest in new ventures, generate employment, and expand, thereby fostering economic growth. Mr. Saada indicated that the revised flexibility in LSE regulations and the UK’s robust creative sector were factors that influenced his decision to select London. He stated, “We have suddenly aroused a lot of curiosity from American investors, from British investors, from investors all over the world and we don’t think this could have happened by listing anywhere else in the European territory.” He also remarked, “We have a long history of working with the creative industries here in the UK and that’s also very important to us.” The public offering is anticipated to value the company at as much as €6bn (£5bn). Copyright 2024 BBC. All rights reserved. The BBC is not responsible for the content of external sites. Information on their approach to external linking is provided.