DIRS.INFO The most relevant business & tech news

☆ Berlusconi family holding adds two board seats as daughter Eleonora joins
▼ + stars: | 2023-11-22 | by ( ) www.reuters.com time to read: +2 min

Eleonora Berlusconi, Barbara Berlusconi and Luigi Berlusconi react on the day of the state funeral of former Italian Prime Minister Silvio Berlusconi outside the Duomo Cathedral, in Milan, Italy June 14, 2023. The other new entry is lawyer Michele Carpinelli, an M&A expert and a long-time family adviser, the source added. In his will, Berlusconi, who died aged 86 in June, handed his eldest children, Marina and Pier Silvio, joint control of Fininvest through a combined, indirect 52% stake. Marina and Pier Silvio have been directly involved in running the family business for almost two decades. Pier Silvio, Barbara and Luigi have long been board members.

Persons: Eleonora Berlusconi, Barbara Berlusconi, Luigi Berlusconi, Silvio Berlusconi, Claudia Greco, Berlusconi, Michele Carpinelli, Silvio, Barbara, Eleonora, Luigi, Marina Berlusconi, Berlusconi's, Mediolanum, Elvira Pollina, Keith Weir, Valentina Za Organizations: Italian, Duomo Cathedral, REUTERS, Repubblica, Marina, Mondadori, Thomson Locations: Duomo, Milan, Italy

☆ MFE retains domestic TV rights of Italian soccer cup
▼ + stars: | 2023-10-30 | by ( ) www.reuters.com time to read: +1 min

MILAN, Oct 30 (Reuters) - Italy's top soccer league Serie A said on Monday it had awarded commercial broadcaster MFE-MediaForEurope <MFEB.MI> the domestic TV rights for the next three seasons of the Italian Cup competition. The deal also includes the right to screen the Italian Super Cup which has been revamped earlier this year as a four-team competition rather than being a match between the winners of Serie A and the Italian Cup. That brings the total value of the deal, which covers the three seasons until 2026-27, to around 168 million euros. The company, which is controlled by the family of late media tycoon Silvio Berlusconi, is the current holder of the Italian Cup and Super Cup domestic TV rights, under a three-year contract expiring in June and worth some 145 million euros. ($1 = 0.9415 euros)Reporting by Elvira Pollina, editing by Gavin Jones and Federico Maccioni and Christian RadnedgeOur Standards: The Thomson Reuters Trust Principles.

Persons: Silvio Berlusconi, Elvira Pollina, Gavin Jones, Federico Maccioni Organizations: MILAN, Serie, Reuters, Italian, Super, Sky Italia, Thomson Locations: Italy

☆ Soccer Serie A looks at media platform as right sale faces stalemate
▼ + stars: | 2023-10-11 | by ( Elvira Pollina | ) www.reuters.com time to read: +2 min

MILAN, Oct 11 (Reuters) - Italy's top flight soccer league Serie A is pressing ahead with plans to launch its own media operations with the support of financial investors as a sale process of domestic broadcasting licences struggles to gain traction, club and league officials said. The creation of a media platform to distribute Serie A matches to other TV outlets as well as the launch of a league-run live video streaming subscription service have been repeatedly floated in recent years. The launch of a TV streaming service platform to broadcast matches would a first for any major soccer league in Europe. The 20 clubs may also decide to use the league's streaming platform to screen only some of the matches, awarding part of the rights to the established broadcasters. TV rights are a key source of revenue for Serie A clubs such as this year's champions Napoli, Juventus (JUVE.MI) and Milanese clubs AC Milan and Inter.

Persons: Elvira Pollina, Keith Weir Organizations: MILAN, Serie, Sky Italia, Napoli, Juventus, Milanese, AC Milan, Inter, English Premier League, Premier League, Thomson Locations: Europe

☆ Berlusconi's eldest heirs strike pact for joint control of business empire
▼ + stars: | 2023-09-15 | by ( ) www.reuters.com time to read: +2 min

MILAN, Sept 15 (Reuters) - The two eldest heirs of late media mogul Silvio Berlusconi have agreed an open-ended pact which binds them to vote together at the family holding company's shareholder meetings, regulatory filings showed on Friday. In his will, Berlusconi, who died aged 86 in June, handed Marina and Pier Silvio, the offspring from his first marriage, joint control of his media and financial empire held by family holding company Fininvest. Under their pact, Marina and Pier Silvio, each owning a 26% indirect stake in Fininvest, agreed to consult at least five days before any Fininvest shareholder meeting to agree a joint position, the documents showed. The agreement secures a dominant influence of the eldest heirs over the family holding company, the regulatory filings said. All of the heirs agreed a lock-up period of five years, during which time they have pledged not to alter the stakes they hold in Fininvest, the filings showed.

Persons: Silvio Berlusconi, Berlusconi, Mediolanum, Berlusconi's, Barbara, Eleonora, Luigi, materialises, Elvira Pollina, David Holmes Organizations: Marina, Silvio, Mondadori, Thomson Locations: Marina, Fininvest, Milan

☆ Factbox: Who got what in Silvio Berlusconi's will?
▼ + stars: | 2023-07-06 | by ( ) www.reuters.com time to read: +2 min

[1/2] Pier Silvio Berlusconi attends the funeral of former Italian Prime Minister Silvio Berlusconi at the Duomo Cathedral, in Milan, Italy June 14, 2023. REUTERS/Yara Nardi/File PhotoMILAN, July 6 (Reuters) - Details of how billionaire Italian tycoon Silvio Berlusconi divided up his assets have been made public on Thursday after the will of the former prime minister, who died on June 12, was unsealed. That means the five children each get an additional Fininvest stake of just over 8%, on top of what they already owned. * He left the remaining one third of his stake, roughly 20% of Fininvest, to his eldest children, Marina and Pier Silvio, in equal amounts. * Marina and Pier Silvio already owned 7.65% of Fininvest each, or a combined 15.3%.

Persons: Silvio Berlusconi, Yara, MILAN, Forbes, Berlusconi, Pier Silvio, Marta Fascina, Paolo, Marcello Dell'Utri, Dell'Utri, Valentina Za, Keith Weir Organizations: Italian, Cathedral, REUTERS, broacaster, Banca Mediolanum, Serie A, Monza, Marina, Thomson Locations: Milan, Italy

☆ Berlusconi leaves control of family business to two eldest children
▼ + stars: | 2023-07-06 | by ( Elvira Pollina | ) www.reuters.com time to read: +4 min

[1/2] Eleonora Berlusconi, , Pier Silvio Berlusconi, Barbara Berlusconi, Luigi Berlusconi, Marina Berlusconi walk to attend the funeral of former Italian Prime Minister Silvio Berlusconi at the Duomo Cathedral, in Milan, Italy June 14, 2023. Marina and Pier Silvio Berlusconi, who both already have executive roles in parts of the business, will hold equal stakes jointly worth around 53% in the Fininvest family holding company, the source said, confirming an earlier report from ANSA news agency. Marina chairs Fininvest while Pier Silvio has been in charge of the MFE-MediaForEurope (MFEB.MI) TV business which has long been the jewel in the family's crown. Barbara, Eleonora and Luigi Berlusconi, his three children from his second marriage, have been less involved in the family business. Berlusconi, who founded a business empire based on real estate and then television, died in Milan.

Persons: Eleonora Berlusconi, Pier Silvio Berlusconi, Barbara Berlusconi, Luigi Berlusconi, Marina Berlusconi, Silvio Berlusconi, Claudia Greco, Marta Fascina, Dell'Utri, Silvio Berlusconi's, Marina, Pier Silvio, Silvio, Barbara, Eleonora, Berlusconi, Paolo, Marcello Dell'Utri, Fascina, Milan's, Villa San, Villa, Costa, Vladimir Putin, Tony Blair, Giulio Piovaccari, Federico Maccioni, Keith Weir, Alvise Armellini, Mark Potter Organizations: Italian, Cathedral, REUTERS, MILAN, Fininvest SpA, Reuters, Forza Italia, Italian Serie A, Monza, Villa, British, Thomson Locations: Milan, Italy, Marina, Fininvest, Raffaele, Italian, Villa San Martino, Arcore, Russian

☆ Berlusconi leaves control of business empire to two eldest children
▼ + stars: | 2023-07-06 | by ( Elvira Pollina | ) www.reuters.com time to read: +4 min

[1/2] Eleonora Berlusconi, , Pier Silvio Berlusconi, Barbara Berlusconi, Luigi Berlusconi, Marina Berlusconi walk to attend the funeral of former Italian Prime Minister Silvio Berlusconi at the Duomo Cathedral, in Milan, Italy June 14, 2023. Marina, 56, chairs Fininvest while Pier Silvio, 54, has been in charge of the MFE-MediaForEurope (MFEB.MI) TV business which their father founded. Forbes estimated that the overall Berlusconi family assets, which include luxury properties in Milan, Rome and Sardinia, were worth around $6.8 billion. Brash, ebullient and a four-time prime minister, Berlusconi was a media mogul and political showman whose financial and sexual scandals made him the most polarising figure in modern Italy. Barbara, Eleonora and Luigi Berlusconi, his three children from his second marriage, have been less involved in the family business.

Persons: Eleonora Berlusconi, Pier Silvio Berlusconi, Barbara Berlusconi, Luigi Berlusconi, Marina Berlusconi, Silvio Berlusconi, Claudia Greco, Marta Fascina, Dell'Utri, Silvio Berlusconi's, Marina, Pier Silvio, Fininvest, Brash, ebullient, Berlusconi, Silvio, Barbara, Eleonora, Paolo, Marcello Dell'Utri, Fascina, Milan's, Giorgia Meloni's, Giulio Piovaccari, Federico Maccioni, Keith Weir, Alvise Armellini, Mark Potter Organizations: Italian, Cathedral, REUTERS, MILAN, Marina, Italian Serie A, AC Monza, Banca Mediolanum, Forbes, Fininvest SpA, Reuters, MARTA Berlusconi, Forza Italia, Thomson Locations: Milan, Italy, Italian, Rome, Sardinia, Raffaele

The pan-European STOXX 600 index (.STOXX) closed 0.2% higher, with the DAX (.GDAXI) up 0.9%. Luxury majors LVMH (LVMH.PA) and Hermes (HRMS.PA) climbed 1.8% and 3%, respectively, further supporting the STOXX 600. Meetings of the U.S. Federal Reserve, the European Central Bank and the Bank of Japan are lined up for the week. The STOXX 600 started the year on a stronger footing compared to the S&P 500 index (.SPX) but lost steam during the second quarter due to a rise in preference for growth-oriented stocks as opposed to value stocks. Shares in SES tumbled 14.6% to the bottom of the STOXX 600 after the satellite company announced its chief executive Steve Collar would step down.

Persons: BOJ, Bernstein, DAX, Lionel Messi's, Hermes, Daniela Hathorn, Sergio Ermotti, he’s, Michael Hewson, Silvio Berlusconi, Steve Collar, Shreyashi Sanyal, Bansari, Eileen Soreng Organizations: Fed, ECB, Adidas, UBS, CS, Inter Miami, U.S . Federal Reserve, European Central Bank, Bank of Japan, Credit Suisse, CMC Markets, MEDIAFOREUROPE, Italian, Novartis, Seattle, Chinook Therapeutics, SES, BNP, Exane, Thomson Locations: Europe, Bengaluru

☆ How Berlusconi got his billions
▼ + stars: | 2023-06-12 | by ( Anna Cooban | ) edition.cnn.com time to read: +3 min

London CNN —Silvio Berlusconi, the billionaire former prime minister of Italy, died Monday, leaving behind a sprawling business empire. It was through Fininvest that Berlusconi acquired big stakes in some of Europe’s major media firms, as well as AC Milan. Berlusconi owned a 61.3% stake in the holding company at the end of 2021, Reuters has reported. AC Milan players won the Italian championship in 1988 when Silvio Berlusconi was the club's president. Marina Berlusconi, left, Pier Silvio Berlusconi, center, and Mrs. Rosa, Silvio Berlusconi's mother, photograhed in 1998 Luca Bruno/AP/FILEPier Silvio, 53, is the chief executive of MediaForEurope.

Persons: London CNN — Silvio Berlusconi, Berlusconi, Silvio Berlusconi, Ferdinando Meazza, MediaForEurope —, Fininvest, ”, Marina, Marina Berlusconi, Pier Silvio Berlusconi, Rosa, Silvio Berlusconi's, photograhed, Luca Bruno, Silvio, — Niamh Kennedy, Sammy Mncwabe Organizations: London CNN, AC Milan, Bloomberg, Media, Milan, Reuters, Mondadori, Italy’s, Prosecutors, Mediaset Locations: Italy, Fininvest, MediaForEurope, Spain, Germany’s ProSiebenSat, Milan

☆ Berlusconi invented the entrepreneur as politician
▼ + stars: | 2023-06-12 | by ( Lisa Jucca | ) www.reuters.com time to read: +4 min

Though his Forza Italia party and business empire are already weakened and unlikely to regain much prominence after his death, his unorthodox political methods spawned imitators across the West. Italy’s four-time and longest-serving prime minister, who often quipped he would live until 120, passed away on Monday. Ex-British Prime Minister Boris Johnson also became popular by portraying himself as an eccentric outsider. As Italy’s traditional parties collapsed under countless graft charges in the 1990s, he used his media popularity and image as a can-do entrepreneur to exploit Italy’s political void. Follow @LJucca on TwitterCONTEXT NEWSFormer Italian prime minister and broadcaster Mediaset founder Silvio Berlusconi died on June 12, aged 86.

Persons: Silvio Berlusconi, Donald Trump ., Boris Johnson, Berlusconi, Beppe Grillo outdid Berlusconi, Vladimir Putin, Giorgia Meloni, MediaForEurope, Neil Unmack, Oliver Taslic Organizations: MILAN, Reuters, Forza Italia, U.S, Donald Trump . Ex, British, Milan soccer, RAI, Star Movement, Thomson Locations: Italian, Italy

☆ Italy's former PM Berlusconi in hospital for leukaemia scheduled checks
▼ + stars: | 2023-06-09 | by ( Giulio Piovaccari | ) www.reuters.com time to read: +3 min

Berlusconi, 86, left San Raffaele Hospital last month after six weeks of treatment for a lung infection linked to a chronic myelomonocytic leukaemia, a type of cancer that affects the white blood cells. "Silvio Berlusconi is currently at the San Raffaele Hospital to undergo scheduled tests in connection with his known hematological pathology," the San Raffaele hospital bulletin signed by doctors Alberto Zangrillo and Fabio Ciceri said. Berlusconi served as prime minister in 1994-1995, 2001-2006 and 2008-2011 and although he does not have a direct role in government, his Forza Italia party is a member of Prime Minister Giorgia Meloni's right-wing coalition. A source from Forza Italia said Berlusconi might spend the night in hospital, after local media reports that he would stay there overnight. "Come on, Silvio," Deputy Prime Minister Matteo Salvini, one of Berlusconi's main political allies, wrote in an Instagram post, commenting on the news of Berlusconi's hospitalisation.

Persons: Silvio Berlusconi, Berlusconi, Alberto Zangrillo, Fabio Ciceri, Giorgia Meloni's, Matteo Salvini, Berlusconi's, Salvini, Angelo Amante, Emilio Parodi, Federico Maccioni, Stefano Bernabei, Toby Chopra, Nick Macfie, William Maclean Organizations: MILAN, Italian, San Raffaele, Forza Italia, Saturday, Salvini's League, Thomson Locations: Milan, Raffaele

☆ Meta, Italy's Mediaset sign deal against online piracy
▼ + stars: | 2023-03-29 | by ( ) www.reuters.com time to read: 1 min

MILAN, March 29 (Reuters) - Italy's top commercial broadcaster MFE-Mediaforeurope (MFEB.MI) said on Wednesday its unit Mediaset had partnered up with Facebook owner Meta Platforms (META.O) to fight online piracy. Under the multi-year partnership, Mediaset will work with Meta to implement a set of tools and systems to protect its unit Reti televisive Italiane (RTI)'s copyrighted content, including live broadcasts. Meta will also provide RTI with training and support to make the most effective use of the U.S. group's 'Rights Manager' tool to allow the Italian company to authorise, manage and protect its content. Reporting by Federico Maccioni, editing by Cristina CarlevaroOur Standards: The Thomson Reuters Trust Principles.

☆ Czech group PPF takes 9.1% stake in Germany's ProSiebensat.1
▼ + stars: | 2023-02-21 | by ( ) www.reuters.com time to read: +1 min

PRAGUE/BERLIN, Feb 21 (Reuters) - Czech investment group PPF has taken a 9.1% stake in ProSiebensat.1 (PSMGn.DE), PPF said on Tuesday, becoming the German broadcaster's second-largest investor behind Italy's MFE-MediaforEurope (MFEB.MI). "PPF believes the digital transformation of ProSieben will create value for all shareholders," privately-owned PPF said in a statement. "PPF is looking forward to liaising with the management and supervisory board of ProSieben in this digitalization process." The group, which also owns the CME group that operates dozens of channels in six central and east European markets, is now controlled by Kellner's widow, Renata Kellnerova. Reporting by Jan Lopatka, Klaus Lauer and Christoph Steitz Editing by Mark PotterOur Standards: The Thomson Reuters Trust Principles.

☆ Berlusconi-backed MFE notifies Austrian watchdog about Prosiebensat.1 holding
▼ + stars: | 2022-12-18 | by ( ) www.reuters.com time to read: +2 min

ZURICH, Dec 18 (Reuters) - Italian businessman Silvio Berlusconi family's MediaForEurope NV vehicle has notified the Austrian competition authority about the "acquisition of de facto sole control of ProSiebenSat1 Media DE Deutschland" (PSMGn.DE), the competition watchdog said. MFE had no comment on the notification, which was first reported by German media portal DE24LIVE. The announcement, dated Dec. 13 on the Austrian regulator's website was made because ProSieben also operates in German-speaking Austria. MFE, controlled by the former Italian prime minister's family, has built, partly through derivatives, a 29.9% voting stake in its German rival, cementing its position as single biggest shareholder. "We haven't really seen ProSieben address the big challenges the industry faces: audience decline, digital transformation ... and the need for scale to compete with digital giants," MFE finance chief Marco Giordani told analysts.

☆ European shares pulled down by Mercedes, defence stocks up after Poland blast
▼ + stars: | 2022-11-16 | by ( Shreyashi Sanyal | ) www.reuters.com time to read: +3 min

SummarySummary Companies Mercedes slides on report of China EV price slashesEuropean autos sector eyes worst day in nearly 7 weeksBiden says missile that hit Poland may not have come from RussiaNov 16 (Reuters) - European shares fell on Wednesday, with Mercedes Benz Group leading losses in automobiles stocks, while a blast in Poland kept sentiment subdued and pushed up defence stocks. The pan-European STOXX 600 (.STOXX) index fell 0.4% by 0924 GMT. Auto stocks (.SXAP) tumbled 2.8% to lead sectoral declines, and were headed for their biggest one-day percentage fall in almost seven weeks. The European aerospace and defence (.SXPARO) sector climbed 0.9% following news of the blast. Multiple data points signalled a euro zone recession amid the European Central Bank's aggressive monetary tightening cycle to control record-high inflation.

☆ ProSiebenSat.1 interested in Sky TV operations in Germany - sources
▼ + stars: | 2022-11-09 | by ( Andreas Rinke | Miranda Murray | ) www.reuters.com time to read: +1 min

BERLIN/MILAN, Nov 9 (Reuters) - German media group ProSiebenSat.1 (PSMGn.DE) is exploring a potential deal to buy into Sky's pay-TV operations in Germany, two sources close to the matter said on Wednesday. Comcast (CMCSA.O), which acquired Sky Deutschland as part of a $40 billion buyout of European pay-TV broadcaster Sky in 2018, did not immediately respond to request for comment. Comcast is working with advisory firm PJT Partners as it is weighing a disposal of the German business, the sources said. One of the sources said there were limited synergies between the two businesses, given that ProSiebenSat.1's TV business was driven by advertising. European broadcasters are struggling to find ways to tackle increasing challenges as the continental landscape is increasing dominated by U.S. streaming giants.

☆ No plans to oust Mediaset Espana CEO, top shareholder says
▼ + stars: | 2022-10-17 | by ( ) www.reuters.com time to read: 1 min

MILAN, Oct 17 (Reuters) - The top investor of Mediaset Espana (TL5.MC) has no plan to oust Paolo Vasile from the role of CEO at the Spanish broadcaster, a spokesperson for MediaforEurope (MFEB.MI) said on Monday, denying Spanish media reports. "No ousting of Paolo Vasile as CEO is underway," the spokesperson said in a statement to Reuters, adding Vasile's results over his tenure at the helm of the company are "extraordinary." Register now for FREE unlimited access to Reuters.com RegisterReporting by Elvira Pollina Editing by Chris ReeseOur Standards: The Thomson Reuters Trust Principles.

☆ Courbit-led group offers 20 euros a share for M6 stake - Bloomberg News
▼ + stars: | 2022-09-25 | by ( Reuters Staff | ) www.reuters.com time to read: +1 min

FILE PHOTO: A view shows French television group M6 headquarters in Neuilly-sur-Seine, near Paris, France, May 21, 2021. REUTERS/Sarah Meyssonnier/File Photo(Reuters) - French media mogul Stephane Courbit and his investor partners are said to have offered 20 euros ($19) a share for Bertelsmann SE & Co.’s stake in television company Groupe M6, Bloomberg News reported on Sunday. The offer is a 39% premium to Friday’s closing price of 14.43 euros per share, and values the 48% stake around 1.22 billion euros. Czech billionaire Daniel Kretinsky also made an offer for the stake, the report said, citing a person familiar with the matter. In March 2021, when Bertelsmann confirmed talks to sell its stake, French media reported that RTL’s stake was worth 1.5 billion euros ($1.48 billion), valuing all of M6 at about 3 billion euros.

☆ Courbit-led group offers 20 euros a share for M6 stake, Bloomberg reports
▼ + stars: | 2022-09-25 | by ( ) www.reuters.com time to read: +2 min

Register now for FREE unlimited access to Reuters.com RegisterA view shows French television group M6 headquarters in Neuilly-sur-Seine, near Paris, France, May 21, 2021. The offer is a 39% premium to Friday's closing price of 14.43 euros per share, and values the 48% stake around 1.22 billion euros. Register now for FREE unlimited access to Reuters.com RegisterReuters could not immediately reach Courbit for comment. In March 2021, when Bertelsmann confirmed talks to sell its stake, French media reported that RTL's stake was worth 1.5 billion euros ($1.48 billion), valuing all of M6 at about 3 billion euros. ($1 = 1.0320 euros)Register now for FREE unlimited access to Reuters.com RegisterReporting by Jaiveer Singh Shekhawat in Bengaluru; Editing by Emelia Sithole-MatariseOur Standards: The Thomson Reuters Trust Principles.

☆ MFE teams up with French partner to bid for TV company M6
▼ + stars: | 2022-09-23 | by ( ) www.reuters.com time to read: +1 min

Register now for FREE unlimited access to Reuters.com RegisterA view shows French television group M6 headquarters in Neuilly-sur-Seine, near Paris, France, May 21, 2021. REUTERS/Sarah MeyssonnierMILAN, Sept 23 (Reuters) - Italian broadcaster MediaForEurope (MFEB.MI) has submitted a non-binding offer for a controlling stake in French TV company M6 (MMTP.PA), two sources familiar with the matter said on Friday. Milan-listed MFE, owned by the family for former Italian prime minister Silvio Berlusconi, has teamed up with a French industrial partner which is not currently present in the TV sector, the sources said, without elaborating. Initial offers for RTL's 48.3% stake in M6 were expected by Friday afternoon after a planned tie-up between the company and fellow French broadcaster TF1 collapsed last week. Register now for FREE unlimited access to Reuters.com RegisterReporting by Elvira Pollina, editing by Silvia AloisiOur Standards: The Thomson Reuters Trust Principles.

BERLIN/FRANKFURT, Sept 22 (Reuters) - Initial offers for RTL's 48% stake in French TV channel M6 are expected by Friday after a failed tie-up with France's TF1 broadcaster, a person familiar with the matter said. RTL has been "inundated" with expressions of interest in the M6 stake since TF1 and M6 called off their planned merger last week, its boss Thomas Rabe told the Financial Times on Thursday. Other potential buyers include French media group Vivendi (VIV.PA) and Altice, owned by billionaire Patrick Drahi, alongside Italian media conglomerate MediaForEurope (MFE), Reuters reported on Monday. If RTL wants to sell M6, a deal must be completed by spring 2023, because M6's broadcasting license comes up for renewal in May. In March 2021, when Bertelsmann confirmed talks to sell its stake, French media reported the RTL's stake was worth 1.5 billion euros ($1.48 billion), valuing all of M6 at around 3 billion euros.

☆ Collapsed French merger sends bad TV signal
▼ + stars: | 2022-09-19 | by ( ) www.reuters.com time to read: +2 min

Logos of French television networks TF1 and LCI are seen at the Boulogne-Billancourt headquarters, near Paris, France, April 18, 2016. REUTERS/Charles PlatiauMILAN, Sept 19 (Reuters Breakingviews) - A French attempt to join forces against video streaming giant Netflix (NFLX.O) has fallen flat. “Top Chef” channel M6 (MMTP.PA), controlled by Germany’s RTL (AUDK.LU), and Bouygues-backed (BOUY.PA) rival TF1 (TFFP.PA) announced in May 2021 they were planning a merger. With 3.4 billion euros of combined revenue, the tie-up was meant to create a French TV leader. The failed merger is a bad signal for European broadcasters.

PARIS/MILAN, Sept 19 (Reuters) - The collapse of a deal to form a French TV giant to challenge U.S. streaming services such as Netflix (NFLX.O) knocked shares in M6 Group (MMTP.PA) and TF1 (TFFP.PA) on Monday. France's two biggest private broadcasters gave up their merger plan on Friday citing French antitrust requirements that rendered the deal unworkable. read moreRegister now for FREE unlimited access to Reuters.com Register"It is extremely disappointing, it shows the incapacity in France of pushing a unifying project to create a French media champion," said Mikael Jacoby, head of continental trading at Oddo Securities. At 1424 GMT, TF1 shares were down 3.3% and shares in M6 were 3% lower. "Hedge funds don't want exposure to the advertising sector, people are very worried about next year," a merger arbitrage analyst said.

Search resuls for: "MediaForEurope"

23 mentions found