PARIS (Agefi-Dow Jones)–The Competition Authority announced on Friday that it has initiated an in-depth examination of the proposed merger between the audiovisual groups TF1, controlled by Bouygues, and M6, owned by Bertelsmann.
The various activities for which the Autorité de la concurrence will continue to analyze the effects of the operation are in particular the acquisition of broadcasting rights for audiovisual content, the publishing and marketing of television channels, the distribution of television and advertising.
The opening of an in-depth examination “does not prejudge the existence of possible harm to competition or the outcome of the examination of the operation”, specified the Competition Authority in a press release.
“The texts provide that the examination of a concentration is carried out in principle within a period of 65 working days” from the opening of the in-depth examination phase, “this period may be extended if necessary, in particular if commitments must be negotiated”, added the Autorité de la concurrence.
The Competition Authority’s final decision on the proposed merger between TF1 and M6 is still expected in the fall of 2022. Last July, TF1 and M6 signed the agreements relating to a merger between the two groups, which had then indicated that the transaction should be finalized by the end of 2022 at the latest.
On the Paris Stock Exchange, the TF1 share fell by 3.1%, to 8.66 euros, while the M6 title fell by 2.2%, to 17.06 euros.
-Dimitri Delmond, Agefi-Dow Jones; +33 (0)1 41 27 47 31; [email protected] ed: LBO
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March 18, 2022 06:33 ET (10:33 GMT)