Any demand to sell M6 or TF1 flagship channels would be a deal breaker -TF1 CEO (updated)

Altex Industries

19/05/2021 09:45

(Adds details)
    By Mathieu Rosemain
    PARIS, May 19 (Reuters) - Any demand by France's antitrust
watchdog for M6 or TF1 to sell their flagship channels as part
of the potential remedies needed for the two groups to merge
would be a deal breaker, TF1 boss Gilles Pelisson said on
Wednesday. 
    France's two biggest private TV groups announced their
tie-up plans on Monday in what they said was a response to the
accelerating challenges from global platforms.  urn:newsml:reuters.com:*:nL2N2N51RW
    The main challenge for TF1 and M6 and their respective
parent companies, French conglomerate Bouygues  BOUY.PA  and
Germany's Bertelsmann  BTGGg.F , is to get clearance by France's
competition authority, as the combined entity would have sway
over three-quarters of the country's TV advertising. 
    "If there was a demand for a sale of either TF1 or M6
channel as part of the remedies, neither group would accept
that," Pelisson said in a call with analysts. 
    The TF1's chief executive also mentioned the risk of having
the two TV groups' licence not renewed by the French
broadcasting authority CSA as another potential deal breaker. 
    But Pelisson stroke an optimistic tone when pressed by
analysts to detail the reasons why he thought the deal could go
through the antitrust funnel without having to give up its
most-prized assets.
    He mentioned the green light given by France's watchdog in
2016 for the merger of French retailers Fnac and Darty in 2016,
in a decision that took into account the rise of e-commerce and
its market leader Amazon  AMZN.O . 
    
    
    
    

 (Reporting by Mathieu Rosemain; editing by Jason Neely by
Louise Heavens)
 ((Mathieu.Rosemain@thomsonreuters.com; +33 1 8098 1239; Reuters
Messaging: mathieu.rosemain.thomsonreuters.com@reuters.net;
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