Groupe TF1 and Groupe M6 have announced a planned merger to create a major French media group, with expected annual synergies of up to €350 million.
Information on the Target
In May 2021, Groupe TF1, Groupe M6, Groupe Bouygues, and RTL Group entered into exclusive negotiations to merge their media activities, aiming to create a significant media entity in France. The proposal received unanimous approval from the boards of all four involved groups. By July 2021, the parties formalized agreements following favorable feedback from employee representative bodies, paving the way for a substantial merger aimed at enhancing the competitive landscape of French media.
The merger is contingent upon several conditions, including necessary approvals from regulatory authorities and shareholder meetings from both Groupe TF1 and Groupe M6. The potential annual synergies, measured by an Adjusted EBITA run-rate impact, are estimated between €250 million and €350 million, expected to be fully realized by 2026. The completion of this transaction is projected for early 2023.
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Industry Overview in France
The French media industry has experienced significant transformation over recent years, driven by shifts in consumer behavior and advancements in technology. Increasingly, digital platforms are beco
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Groupe TF1, Groupe M6, Groupe Bouygues, RTL Group
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in 2021
in a Merger deal
Disclosed details
Transaction Size: $282M