Merged TF1, M6 to take control of Salto
March 25, 2022
By Colin Mann
Following the May 17th 2021 announcement of the proposed merger between the TF1 and M6 groups, the France Télévisions group expressed its wish, if the merger is completed, to divest its equity interest in Salto (the subscription video on demand service launched in October 2020 and owned in equal shares by France Télévisions, TF1 and M6).
Under the terms of an agreement signed between the parties, the TF1 and M6 groups have undertaken that if the merger is completed, they would buy out the 33.33 per cent equity interest held by France Télévisions at a definitive value of €45 million. The new group would then own 100 per cent of Salto, enabling it to develop a streaming project.
Because the agreement is conditional on completion of the merger between the M6 and TF1 groups, Salto will remain under the joint control of its three shareholders throughout 2022 to facilitate the ongoing development of the platform, in line with undertakings made in connection with French Competition Authority decision no. 19-DCC-157.