have entered exclusive negotiations in view of a merger that would “provide a French response to the challenges from global platforms,” TF1 parent Bouygues announced late Monday. The project has been unanimously approved by the boards of Groupe TF1, Groupe Bouygues, Groupe M6, and M6 parentThe discussions are expected to last 18 months with completion aimed for by the end of 2022 after consultation with employees’ representatives, regulatory approvals, and shareholder meetings of both companies.
Bouygues would hold 30% of the combined company and M6 parent RTL Group would have 16% following the acquisition of an 11% stake by Bouygues from RTL, for a consideration of 641M euros . Groupe Bouygues would have exclusive control over the merged company, acting in concert with RTL Group as a strategic shareholder.
Among other key priorities for the merged group are the strengthen the supply of French quality content leveraging a portfolio of strong brands and ambitious investment levels; a continued guarantee of the independence, reliability and quality of information on television, radio and digital, while respecting pluralism and preserving each channel’s identity; to further develop a production hub for local and international content across all media segments, with the ambition to grow international...
Nicolas de Tavernost, CEO of Groupe M6, said,“The consolidation of the French television and audiovisual markets is an absolute necessity if the French audience and the industry as a whole are to continue to play a predominant role in the face of exacerbated international competition, which is accelerating rapidly. The combination of the two groups’ know-how will allow for an ambitious French response.