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BOUYGUES

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Bouygues, RTL in Talks to Merge French TV Companies to Create Streaming-Focused Operator

05/18/2021 | 01:42am EDT

By Joshua Kirby

Bouygues SA said late Monday that it has entered exclusive negotiations over a merger between Television Francaise 1 SA and M6-Metropole Television SA, part of Luxembourg-based broadcaster RTL Group SA.

The merger between TF1 and M6 would create a streaming-focused French media group in a growth market, the telecommunications company said. RTL is majority-owned by German media group Bertelsmann.

Bouygues, which holds 43.7% of TF1, would hold 30% of the new group and have exclusive control over it after buying an 11% stake from RTL for 641 million euros ($778.9 million), according to the proposed deal. The deal would involve a special cash dividend payment of EUR1.50 a share to M6 shareholders.

Bouygues said the new group would have EUR3.4 billion in annual revenue and an operating profit of EUR461 million, according to pro-forma 2020 results.

The transaction, which has the approval of the boards of all involved companies, should go ahead by the end of 2022, pending employee consultations and antitrust clearance, Bouygues said.

Write to Joshua Kirby at joshua.kirby@wsj.com; @joshualeokirby

(END) Dow Jones Newswires

05-18-21 0141ET

Stocks mentioned in the article
ChangeLast1st jan.
BOUYGUES -0.70% 32.49 Real-time Quote.-3.45%
DJ INDUSTRIAL -0.42% 34935.47 Delayed Quote.14.63%
M6 MÉTROPOLE TÉLÉVISION -2.43% 16.88 Real-time Quote.27.30%
RTL GROUP S.A. -0.54% 47.7 Delayed Quote.20.03%
TF1 -2.36% 8.055 Real-time Quote.22.23%
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Financials
Sales 2021 36 937 M 43 833 M 43 833 M
Net income 2021 1 056 M 1 253 M 1 253 M
Net Debt 2021 2 216 M 2 630 M 2 630 M
P/E ratio 2021 11,8x
Yield 2021 5,27%
Capitalization 12 377 M 14 682 M 14 687 M
EV / Sales 2021 0,40x
EV / Sales 2022 0,38x
Nbr of Employees 129 000
Free-Float 57,3%
Chart BOUYGUES
Duration : Period :
Bouygues Technical Analysis Chart | EN | FR0000120503 | MarketScreener
Technical analysis trends BOUYGUES
Short TermMid-TermLong Term
TrendsBullishBearishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 17
Last Close Price 32,49 €
Average target price 38,59 €
Spread / Average Target 18,8%
EPS Revisions
Managers and Directors
Olivier Roussat Chief Executive Officer
Pascal Grangé Chief Financial Officer, Deputy CEO & SVP
Martin Bouygues Chairman
Gilles Zancanaro Senior Vice President-Digital, Innovation & Risks
Colette Lewiner Independent Director
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