The TF1 and M6 teams abandon their merger mission, judging that it now not presents “any industrial logic” given the concessions demanded of them
It is an unbelievable twist that simply occurred on this Friday evening! The TF1 and M6 teams introduced Friday the abandonment of their merger mission, judging that it offered “now not any industrial logic” given the concessions which have been demanded of them by the Competitors Authority, specifically the sale of the TF1 or M6 channel.
“Bouygues, RTL Group, TF1 and the M6 group are right this moment placing an finish to the proposed merger of the TF1 and M6 teams, introduced on Could 17, 2021”, clarify the 4 entities in a press launch.
Since “solely structural cures regarding a minimum of the sale of the TF1 channel or the M6 channel can be reminiscent of to permit the authorization of the operation”, the events concluded “that the mission now not offered any industrial logic”. The Competitors Authority “takes word of the announcement made right this moment by Bouygues to withdraw its plan to accumulate unique management of the Métropole Télévision group”, it introduced instantly on its website.
“This resolution places an finish to the process initiated earlier than the Authority,” she stated. It had carried out two days of hearings of the events within the merger behind closed doorways initially of September and was to render its resolution in mid-October. The Authority’s investigation providers had, throughout the hearings, reiterated their place on the finish of July, which was relatively unfavorable and with out “actual change”, regardless of the concessions since supplied by the channels, based on a supply at AFP.
“The events deplore that the Competitors Authority didn’t consider the size and pace of the modifications within the French audiovisual sector”, clarify the 4 entities of their press launch on Friday.
“They continue to be satisfied that the merger of the TF1 and M6 teams would have been an acceptable response to the challenges arising from accelerated competitors with worldwide platforms,” they add.
The school of the Competitors Authority usually follows the opinion of the investigation providers, however it deviated from it throughout the merger in 2016 between Fnac and Darty, the place the aggressive stress on the sector was taken into consideration. of e-commerce..
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