French entertainment company Vivendi SA (VIV.FR) and Polish broadcaster TVN SA (TVN.WA) have reached an agreement on creating a joint venture of their pay-TV operations in the central European country, TVN said in a statement Monday.

The joint venture, called "n/C+", will be made up of TVN's subsidiary Platforma "n" and Vivendi's Canal Plus Cyfrowy Sp Zoo. The new company's majority shareholder will be Vivendi's pay-TV subsidiary Canal Plus, with a 51% stake, followed by TVN with a 32% stake and UPC with a 17% stake.

-By Marynia Kruk, Dow Jones Newswires; +48 22 447-2431; marynia.kruk@dowjones.com

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