The deal would see M6 Group acquiring Lagardère Group’s television business, including Gulli, France’s leading free-to-air digital channel for children; Canal J, a pay-TV channel dedicated to viewers 6 to 12; and Tiji, targeted to kids aged 3 to 6.
It would also include Lagardère’s other entertainment and music channels Elle Girl TV, MCM, RFM TV and MCM Top. However, the deal would not include the Mezzo classical music channel. The TV sales house business will also be part of the deal.
“This project represents a unique opportunity for M6 Group to complement its audiovisual offering for families and to strengthen its overall position in the French media market, both in TV advertising and digital, by leveraging the power of the Gulli brand in on-demand TV (replay and SVOD),” said the M6 Group in a statement.
“Established in more than 91 countries via distribution agreements, the division will also provide M6 Group with the opportunity to continue to expand its operations at international level.”
In 2017, Lagardère’s TV Business (excluding Mezzo) posted proforma consolidated revenue and proforma recurring EBIT of €98 million and €20.6 million respectively.
The deal will be subject to consultation with the employee representative bodies of both Lagardère Group’s Television Business and M6 Group, as well as to approval of the Conseil Supérieur de l’Audiovisuel (French broadcasting authority) and the Competition Authorities.