France Télévisions, M6 and TF1 groups officially announced their decision to close their joint venture streaming platform Salto. This decision by Salto’s three founder-shareholders follows the abandonment of the proposed merger between TF1 and M6, which according to them would have paved the way for platform to be taken over by the merged entity.
Now that this project has been stopped, the shareholders of Salto have decided that the conditions are not met for the service to continue with its current ownership structure, given the complex and constraining governance arrangements and the refusal of most internet service providers to distribute the platform, as is the case with the American platforms. In addition, none of the expressions of interest in taking over Salto received from a number of industry players could be brought to a satisfactory conclusion.
Consequently, the shareholders of Salto have decided that Marc Sénéchal, a partner in the firm B.T.S.G., should be designated as the court-appointed administrator to conduct a voluntary liquidation. B.T.S.G. will shortly specify and announce the timetable for the shutdown of the platform and subscriptions. A specific communication will be sent in the near future to Salto’s subscribers to inform them of the consequences on their current subscription.
Launched on October 20, 2020, Salto has currently near one million subscribers, who have signed up for an offer that combines the best of French drama with iconic daily shows and exclusive all-new programmes. The project was presented as an easy-to-use, mass-appeal French-language platform that aimed to showcase creative talents from France and across Europe.