RTL Group to Retain M6 Stake

October 3, 2022 Kristin Brzoznowski Top Stories

RTL Group has decided to keep its controlling stake in Groupe M6, after having received “several financially attractive offers” for the 48.3 percent shareholding.

In mid-September, Groupe Bouygues, RTL Group, Groupe TF1 and Groupe M6 called off their plan to merge Groupe TF1 and Groupe M6. RTL Group has since received a number of offers for its controlling stake. However, the group said it “considers the legal risks and uncertainties to be too high due to the required approval processes from the antitrust and media authorities and the timing for the upcoming license renewal for the main channel, M6.”

Thomas Rabe, CEO of RTL Group, said, “RTL Group has been a strategic shareholder in Groupe M6 for 35 years. Groupe M6 is one of the best-run TV companies in Europe with an excellent management team, led by its CEO Nicolas de Tavernost. In 2021, Groupe M6 achieved record operating results. We will continue to pursue our strategy to build national media groups of sufficient size to compete with the U.S. platforms.”

RTL Group added that it “remains convinced that market consolidation is necessary to compete with the global tech platforms—and that market consolidation will happen in the European TV markets sooner or later. With a strong presence across TV, radio and streaming, Groupe M6 will play a key role in any further consolidation in the French TV industry.”