Bertelsmann CEO Thomas Rabe desires 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 tips on how to revive the merger, which might have introduced his RTL-owned M6 along with Bouygues-owned industrial broadcaster group TF1.
The earlier try and carry the businesses collectively in 2022 was abandoned after being thwarted by European Union regulators, who thought-about the merged group could be too dominant within the TV promoting market and stated one of many important channels concerned would have to be bought to rectify the problem.
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 world streaming companies, Rabe desires 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 might 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 venture again on the desk when the authorized and regulatory circumstances allow it.”
This follows a report from former European Central Financial institution chief Mario Draghi final yr on EU competitiveness, which steered regulators ought to chill out 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 worldwide competitors.
Rabe welcomed the change in method and stated: “We’ve been the victims of those guidelines greater than as soon as. We’ve got tried to create European champions in media and we had been blocked by the regulators — I consider for no good purpose. Now the European Fee talks in regards to the necessity to reform and promote European champions. Incredible. 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 recently changed its name from Newen Group.
