Millionaire Vincent Bolloré Makes Changes in the Management of Canal Plus year, Vincent Bolloré, the billionaire took over as the chairman of Vivendi and since then has reshuffled the management of the French media and content group.

The group's head, Rodolphe Belmer was ousted and Maxime Saada the executive vice-president will be replacing him.

Gregoire Castaing, the chief financial officer was selected to join the management board. Many thought that Bertrand Méheut, would be leaving the group but proving them wrong his role was confirmed as the president.

This year,  Mr Bolloré,increased his stake in Vivendi and spiked it from approximately five 5 per cent to fifteen percent. Now comes the time to make some changes to keep the pay-TV unit in competition with other growing rivals.

Competition has been immense for Canal Plus from likes such as the video streaming service Netflix. The rivals like beIN Sports have spiked prices for the rights to air the sporting events.

This week there were even reports in the French press saying that Mr Bolloré plans to do away with the much adored satirical puppet show Les Guinoles, as a part of his revamping plans to bring in new programs and a fresh look to Canal Plus. However, protests came in from all political quarters against the likely plans before they could be even announced.

Mr Bolloré said in a statement that the program was a vital part of the channel's history.