The company, which acquires and sells electronic programming guide slots on the satellite platform, said that it has taken over "day-to-day management" of the Film24 channel.
Last month, Film24's principal shareholder, Lord Swaraj Paul's Caparo Group, opted to withdraw funding for the entertainment channel, placing its future in serious doubt.
Canis is now helping the channel's owners to "look at business options for the future", including the sale of its Sky EPG position or ways to build on the existing brand.
Film24, which is currently available at position 157 on Sky's EPG, has an average reach of around 800,000 viewers, according to BARB figures.
"Film24 and its executive management team fought extremely hard in today's tough economic TV climate to build a reputable brand, achieve good audiences and occupy an excellent position on the Sky EPG," said Canis Media chief executive Ed Hall.
"We are now able to try and secure a sustainable future for the channel or the EPG position."
Canis said that options available to Film24 include a "simple outright sale" of its EPG position, or a "rescue package" of some description, possibly involving a "joint venture with a new channel owner in the UK or overseas".
Last summer, Canis handled the sale or re-structure of the nine slots on Sky's EPG previously owned by collapsed Irish sports broadcaster Setanta.