TF1/M6 merger project: an initial unfavorable report by the Competition Authority

"As part of the examination of the proposed merger between the TF1 group and the M6 group, the investigating departments of the French Competition Authority have submitted their report. In this report, which does not prejudge the final decision of the board of the Authority, the investigation services consider that the transaction raises significant competition concerns (in particular on the advertising market)," reported French free-TV groups TF1 and M6 on 26/07/2022.

"The nature and extent of the measures required in the investigation report would render the parties' plan irrelevant, in which case it would be abandoned. The parties, who intend to maintain their project as presented, will respond within three weeks to the Authority; hearings before the board of the Competition Authority are scheduled for 05 and 06/09/2022."

The final decision is to be made by the Competition Authority board, which is not obliged to follow the advice of the investigating departments, in October 2022. The project, announced in May 2021 and scheduled for January 2023, is also subject to approval by…