Canal Plus reported an operating loss of 374 million euros, or about $333 million, last year.

Vivendi also plans to buy the 51 percent of Canal Plus, the pay television group, that it does not already own for about $10.6 billion.

Talks broke down earlier this year after Canal Plus demanded management control.

Canal Plus, the cable television firm, is also a major backer.

Canal Plus is already looking for more ways to expand its influence.

But Canal Plus could be a source of much-needed cash.

Vivendi, of course, could decide to hold on to Canal Plus.

Analysts interpreted the deal with Canal Plus as a move away from the arms and aircraft business.

"Canal Plus used to have a soul and profit," he said.

It wasn't until after his death in 1991 when the project finally got the funding needed to complete the documentary from Canal Plus.