France/TF1-M6 merger: Altice in exclusive negotiations to acquire TFX (TF1) and 6ter (M6)

Altice Media, a subsidiary of the telecommunications operator Altice France, has entered into exclusive negotiations with the French free-TV groups TF1 and M6 for the sale of the free-to-air DTT channels TFX (TF1 group) and 6ter (M6 group), on 28/02/2022.

These disposals are part of the planned merger between the TF1 and M6 groups, announced on 17/05/2021, and will only be effective if the project is successful. Indeed, at the end of this operation, the group formed will only be able to publish seven national DTT channels, in accordance with the limit defined by French regulations (the two groups currently hold 10 channels: TF1, TMC, TFC, TF1 Séries Films and LCI for TF1; M6, W9, Gulli, 6ter and Paris Première for M6)

"Due to the various authorisations required, both from the French Competition Authority and from the Arcom, the effective completion of the merger between the M6 and TF1 Groups is now expected for the very beginning of January 2023," said TF1 and M6, which will retain control of TFX and 6ter respectively during the 2022 financial year.

"Still in order to comply with the…