French television groups TF1 and M6 have cancelled merger plans, following objections from the French competition watchdog.
The deal, which was seen as an attempt by the two commercial TV companies to create a European powerhouse capable of taking on theglobal streaming giants, has been abandoned after the French Competition Authority’s probe of the merger.
The companies said Friday that after meeting with the antitrust watchdog it became apparent they would only receive approval for the deal on the condition they sold one of the two networks’ flagship channels: either TF1 or M6 channel.
“The parties have therefore concluded that the proposed merger no longer has any strategic rationale,” read a joint statement from TF1 Group and its 44 percent owner Bouygues Group as well as M6 Group and its Luxembourg-based parent RTL Group. “The parties regret that the Competition Authority did not take into account the speed and extent of the changes sweeping through the French broadcasting sector.”
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Judge Mehta Questions Both Sides in Landmark Google Antitrust Case
May 2, 2024 by
CPI
FCC Urges Urgent Funding for Removal of Chinese Telecom Equipment from U.S. Networks
May 2, 2024 by
CPI
Former Pioneer CEO Facing Potential Criminal Charges For Colluding With OPEC
May 2, 2024 by
CPI
South Korea’s Antitrust Regulator Greenlights K-Pop Powerhouse Deal
May 2, 2024 by
CPI
Exxon’s Pioneer Purchase Approved, Former CEO Barred from Board
May 2, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI