French media company Lagardere SCA (MMB.FR) Wednesday said it will postpone the initial public offer of its 20% stake in French pay TV Canal Plus France due to the market volatility following the Japanese earthquake and its dramatic consequences.

"Due to the scale of the disaster in Japan and...the extreme volatility of the markets, the Lagardere group has decided to postpone the calendar of the initial public offering of its stake in Canal Plus France," the company said in a statement.

Lagardere remains committed to selling the stake "soon," the company added.

Canal Plus France, a unit of Canal Plus Groupe, is 80%-owned by French media and telecoms giant Vivendi SA (VIV.FR).

-By Ruth Bender, Dow Jones Newswires; +33 1 4017 1740; ruth.bender@dowjones.com