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    RRTL   LU0061462528

RTL GROUP S.A.

(RRTL)
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M6, TF1 shares jump on tie-up prospects between TV groups

05/18/2021 | 04:11am EDT
FILE PHOTO: The logo of M6 Television is seen during the annual MIPCOM television programme market in Cannes

PARIS (Reuters) - Shares of France's two top broadcasters M6 and TF1 jumped in early trading on Tuesday after their respective owners said they planned to combine them in a bid to fend off the rise of video platforms such as Netflix

Shares of TF1, controlled by French conglomerate Bouygues, were leaping by close to 10% at 0734 GMT, while those of M6, controlled by Germany's Bertelsmann, were up by 7.5%.

The tie-up plans will create a new French market leader with 3.4 billion euros ($4.15 billion)in revenue and Bouygues as its 30% controlling shareholder, the companies said in a joint statement late on Monday.

The announcement marked the start of exclusive negotiations, with a formal deal expected to close at the end of 2022, they said.

The combination of France's top two broadcasters promises to shake up the French audiovisual and advertising markets and is likely to draw the attention of the country's antitrust watchdog.

As of today, M6 and TF1 jointly control three quarters of France's TV advertising market.

The deal resolves a battle for M6 that began late last year, when Bertelsmann approached potential buyers for its 48% stake.

M6 shareholders will receive a 1.50 euro exceptional dividend as part of the transaction, which sees 2.1 TF1 shares exchanged for each M6 share.

Bouygues will then pay 641 million euros to acquire a further 11% of the new company from Bertelsmann, leaving the German group with a 16% holding.

The combination, which is also subject to shareholder approvals, will generate 250-350 million euros in annual synergies within three years, they also said.

($1 = 0.8200 euros)

(Reporting by Mathieu Rosemain, editing by Louise Heavens)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
BOUYGUES 0.03% 32.72 Real-time Quote.-2.76%
M6 MÉTROPOLE TÉLÉVISION 0.46% 17.3 Real-time Quote.30.47%
NETFLIX, INC. -0.97% 514.25 Delayed Quote.-3.96%
RTL GROUP S.A. -0.21% 47.96 Delayed Quote.20.68%
TF1 3.00% 8.25 Real-time Quote.25.19%
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Financials
Sales 2021 6 212 M 7 378 M 7 378 M
Net income 2021 597 M 709 M 709 M
Net cash 2021 374 M 444 M 444 M
P/E ratio 2021 12,3x
Yield 2021 8,14%
Capitalization 7 362 M 8 752 M 8 745 M
EV / Sales 2021 1,12x
EV / Sales 2022 1,09x
Nbr of Employees 15 960
Free-Float 23,7%
Chart RTL GROUP S.A.
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RTL Group S.A. Technical Analysis Chart | RRTL | LU0061462528 | MarketScreener
Technical analysis trends RTL GROUP S.A.
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Mean consensus OUTPERFORM
Number of Analysts 9
Last Close Price 47,96 €
Average target price 52,83 €
Spread / Average Target 10,2%
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Managers and Directors
Thomas Hermann Rabe Chief Executive Officer & Executive Director
Bj÷rn Bauer Chief Financial Officer
Martin Taylor Chairman
Vincent Pascaud Senior Vice President-Group IT & IT Governance
Elmar Heggen COO, Deputy CEO & Executive Director
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