French broadcaster TF1 has bought out the Principality of Monaco’s 20 per cent stake in TMC channel. The transaction will be carried out via a share exchange, enabling the Principality of Monaco – as a shareholder of TF1 – to retain an interest in the success of TMC and of the TF1 group. The Principality of Monaco will hold a 1.1 per cent equity interest in TF1.

The transaction has no effect whatsoever on the way the channel (whose head office and operations are based in Monaco) is currently run.

This deal represents a further step in the TF1 group’s ongoing multi-channel strategy.

For Monaco, it represents an opportunity to buy into the development of an international broadcasting group with wide-ranging know-how.

TMC is France’s benchmark free-to-air DTT channel. Aimed at the 25-49 age target, its schedules are built around four key genres: a powerful movie offering, current affairs investigations and explainers, entertainment (with an emphasis on France’s best-loved comedians), and French drama. In 2015, TMC attracted the highest evening viewing figures of any French FTA DTT channel.

TMC has been 100 per cent consolidated in the TF1 financial statements since July 2010.

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