PARIS, Oct 4 (Reuters) — Shares in French TV company M6 slumped on Tuesday after Bertelsmann’s RTL Group scrapped a plan to sell its controlling stake in M6.
M6 shares were down 4.1 percent in early session trading.
Dropping the sale of RTL’s 48.3% stake in M6 means Bertelsmann will have to wait five years before considering any new bids for the French TV network, known for its high margins in a sector challenged by the competition of U.S.streaming platforms such as Netflix, sneakers 1992 film awards (visit the up coming document) Amazon Prime and Disney+.
M6 will apply for a new five-year broadcast authorisation from May 2023. Once granted by France’s audiovisual authority, Arcom, alexander mcqueen sneakers women (http://solitaryisle.shop) it cannot change its controlling shareholder for that period of time, under French law.
RTL and Bouygues, which is the parent group of France’s biggest private TV network TF1, ended a plan to merge M6 and TF1 into a national television champion last month, saying demands by the French competition authority made it unworkable.(Reporting by Mathieu Rosemain; Editing by Sudip Kar-Gupta)
