French television TF1 will buy 30% of its M6 competitor from German Bertelsmann, an announcement that will be formalized on Tuesday,

Le Figaro

said on Monday

.

According to the daily, which does not identify a source and does not give an amount for the transaction, the negotiations between Bouygues, the parent company of TF1, and the M6 ​​group were successful last weekend.

Bouygues and TF1 "are going to buy 30% of the shares of the M6 ​​group put up for sale by the German Berteslmann", the latter retaining "16% of the capital to facilitate negotiations with the competition authority.

The balance will remain listed on the stock exchange, ”assures

Le Figaro

.

Nicolas de Tavernost, chairman of the management board of the M6 ​​group, would become the CEO of the new group.

"Gilles Pelisson, the CEO of the TF1 group, will no longer be in charge", according to the same source.

Allow 18 to 24 months of wedding preparations

Bertelsmann, which so far holds 48.3% of the capital of the M6 ​​group through its subsidiary RTL Group, declared itself a seller at the start of the year, and TF1's offer seemed to hold the line against its competitors.

Solicited Monday evening by AFP, neither TF1, nor M6, nor RTL responded immediately.

This acquisition process, if confirmed, will nevertheless be subject to strong regulatory constraints on media concentration. Indeed, only seven authorizations to broadcast on the hertzian waves can be granted to the same television group. As the M6 ​​group already owns five frequencies (its eponymous channel, W9, 6ter, Gulli and Paris Première), a takeover by TF1 also owner of five channels (TF1, TMC, LCI, TFX, TF1 Cinéma Séries) would involve the sale of three channels .

According to experts, the decisive point will be the green light from the anti-trust authorities.

The marriage of the first and third PAF channels would indeed bring out a giant television player exceeding France TV with more than 30% of audience share, and representing three quarters of the advertising market on the media.

Finally, from a stock market point of view, the law prevents a shareholder from owning more than 49% of a television group.

According to a media observer, the implementation of such an acquisition could take from 18 months to two years.

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