Bouygues, RTL in Talks to Merge French TV Companies to Create Streaming-Focused Operator
By Joshua Kirby
Bouygues SA said late Monday that it has entered exclusive
negotiations over a merger between Television Francaise 1 SA and
M6-Metropole Television SA, part of Luxembourg-based broadcaster
RTL Group SA.
The merger between TF1 and M6 would create a streaming-focused
French media group in a growth market, the telecommunications
company said. RTL is majority-owned by German media group
Bouygues, which holds 43.7% of TF1, would hold 30% of the new
group and have exclusive control over it after buying an 11% stake
from RTL for 641 million euros ($778.9 million), according to the
proposed deal. The deal would involve a special cash dividend
payment of EUR1.50 a share to M6 shareholders.
Bouygues said the new group would have EUR3.4 billion in annual
revenue and an operating profit of EUR461 million, according to
pro-forma 2020 results.
The transaction, which has the approval of the boards of all
involved companies, should go ahead by the end of 2022, pending
employee consultations and antitrust clearance, Bouygues said.
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(END) Dow Jones Newswires
May 18, 2021 01:41 ET (05:41 GMT)
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