Bertelsmann CEO Thomas Rabe needs to revive the failed merger of French nets TF1 and M6.
Talking to the FT, Thomas Rabe stated that softening European regulation meant he’ll exploring the way to revive the merger, which might have introduced his RTL-owned M6 along with Bouygues-owned business broadcaster group TF1.
The earlier try and convey the businesses collectively in 2022 was deserted after being thwarted by European Union regulators, who thought of the merged group can be too dominant within the TV promoting market and stated one of many major channels concerned would have to be bought to rectify the difficulty.
Nevertheless, with Europe showing to be extra agreeable to its media teams strengthening within the face of the Trump administration within the U.S. and more and more highly effective international streaming companies, Rabe needs to place a “extremely” synergistic deal again on the agenda. The businesses’ mixed income was €3.7B ($4.1B) in 2024 and so they had a mixed market cap of €3.6B.
“It could create a real French TV and streaming champion, in a position to compete with the U.S. platforms,” Rabe instructed the FT.
A spokesman for Groupe TF1 stated: “We are able to see placing such a mission again on the desk when the authorized and regulatory situations allow it.”
This follows a report from former European Central Financial institution chief Mario Draghi final 12 months on EU competitiveness, which recommended regulators ought to calm down merger guidelines. Because the FT reported, the brand new EU competitors commissioner, Teresa Ribera, has since begun work to evaluate whether or not regulation is “match for the brand new realities” of world competitors.
Rabe welcomed the change in strategy and stated: “We’ve been the victims of those guidelines greater than as soon as. We have now tried to create European champions in media and we had been blocked by the regulators — I consider for no good cause. Now the European Fee talks concerning the necessity to reform and promote European champions. Improbable. Let’s do it.”
Bertelsmann owns the likes of M6, publishing Penguin Random Home, European broadcast group RTL and its subsidiary, Acquired Expertise maker Fremantle. TF1, owned by telecoms large Bouygues, runs TV channels and owns Studio TF1, which lately modified its title from Newen Group.
