(AOF) – Targetspot SA announced that the Extraordinary General Meeting held on December 9, 2022 adopted all of the proposed resolutions submitted to the vote. The shareholders thus approved the sale by Targetspot SA of its subsidiary Radionomy Group BV to Azerion Tech Holding BV, according to the terms of the sale contract signed on November 21, 2022. Once this transaction is finalized, in December 2022, the company will communicate with the investors its development prospects and ambitions for its new scope refocused on its subsidiary Winamp.
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Sector analysis Communication and Media
French players well positioned in audiovisual production
Among the independent players, the Frenchman Banijay is the world leader with an expected turnover of 3 billion euros in 2022 in a market which represents 100 billion in revenue. Mediawan (backed by the KKR fund), whose turnover amounts to 1 billion euros, is the other main French player in the sector. The market is still very fragmented because according to the European Audiovisual Observatory, the top twenty production groups were responsible for only 38% of titles created in 2020. However, experts believe that the sector has entered a phase consolidation. Thus Banijay’s stock market listing aims to enable it to better participate in this movement.