French TV groups TF1 and M6 have reached a pact to buy France Televisions’ stake in Salto, the streaming service they jointly launched in 2020, if their proposed merger gets anti-trust approval.
Since TF1 and M6 unveiled their merger plan, the French public broadcaster France Televisions said it wished to exit Salto if their deal got through. All three TV group own Salto in equal shares.
Under TF1 and M6’s agreement, which was announced during Series Mania on Thursday, the two companies would buy out France Televisions’ 33-percent equity interest in Salto which is valued at €45 million. “The new group would then own 100% of Salto, enabling it to develop a streaming project,” said TF1 and M6.
“Salto will remain under the joint control of its three shareholders throughout 2022 to facilitate the ongoing development of the platform, in line with undertakings made in connection with French Competition Authority decision,” added TF1 and M6 in a joint release.
More to come.
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