TF1/M6 merger under threat?
January 25, 2022
By Chris Forrester
A report in French newspaper Le Figaro quotes the nation’s Association of Advertisers (UDM) saying that they do not see TV advertising and digital advertising as substitutable.
This is perceived as a negative for the proposed merger between French commercial TV broadcaster TF1 and smaller rival M6.
A note from investment bank Exane/BNPP says that the major argument backing the merger is that the emergence of major digital players such as Google, Amazon etc, has made the borders between the sub-categories of advertising as being “much more fluid”.
The UDM argue that in their view this is not the case and consequently the argument in favour of a merger doesn’t hold.
Arcom, the French media regulator (the successor to the CSA) is expected to make its view on the merger known within the next few weeks.
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