The TF1 Group announces that it has received a put option from Altice Media's TFX channel (channel 11 of DTT) and has granted it exclusivity.
Completion of the sale is subject in particular to informing and consulting the employee representative bodies; to obtaining clearance from the relevant authorities (the French Competition Authority and Arcom); and to completion of the proposed merger between the TF1 and M6 groups. Consequently, the TFX channel will remain under the full control of the TF1 group throughout 2022.
The sale of TFX would be tied into the proposed merger between the TF1 and M6 groups announced on 17 May 2021, and would help the combined group comply with legislation by avoiding its being in the position of owning more than seven national DTT channels.
The transaction would also drive competitive momentum in the French broadcasting industry by strengthening an established player which already operates in broadcast TV with three national channels on DTT, alongside its radio and online activities.