TF1 to Acquire Majority Stake in Newen

PARIS: TF1 has struck a deal to acquire a 70 percent equity interest in FLCP, the holding company of the Newen group.

The existing shareholders, which includes the company's management team, will retain the remaining 30 percent. The deal will be subject to approval by the relevant authorities over the coming weeks.

The objective of the acquisition is to develop French productions in international markets, notably with major European broadcasters. The tie-up is also meant to forge partnerships with European broadcasters and producers, especially to acquire and distribute formats; accelerate the rollout of production and distribution at the international level, in the context of stronger competition from non-European players; give Newen additional resources to continue making investments; and deliver international co-productions and new original content.