Film: Le Studio Canal Plus, an arm...

Film: Le Studio Canal Plus, an arm of the French pay television giant Canal Plus that has backed such movies as “Made in America” and the Sylvester Stallone film “Cliffhanger,” is reorganizing its American operations by consolidating into an entity called Le Studio Canal Plus (U.S.). As part of the consolidation, Canal Plus will fold its Hexagon Films into the operation, with Hexagon President Marc Frydman becoming an in-house producer. Canal Plus, which has had a mixed track record in Hollywood, said the move is being made to create a more efficient operation with a clearer identity. The studio was a major partner in producer Arnon Milchan’s production company, New Regency, but is reducing its involvement there. It also holds a big stake in Carolco Pictures, which is battling back from severe financial problems.