Axios Pro Exclusive Content

Banijay Group chairman among bidders for French TV giant M6

Sep 26, 2022
Illustration of a television with the French flag on its screen.

Illustration: Shoshana Gordon/Axios

Multiple suitors have emerged for Bertelsmann's 48% stake in French TV giant M6, led by Banijay Group chairman Stéphane Courbit's offer of more than €1.22 billion, Bloomberg reports.

Why it matters: M6's scuttled deal with TF1 — which was canceled over regulatory pressure — has now made it among the hottest media commodities on the international TV market.

State of play: M6's status as the most profitable private national French TV channel and the third most-watched network in France has led to several media billionaires in Europe considering bids.

  • Courbit's bid was for €20 a share, which would represent a 39% premium over where the stock closed on Friday.
  • His bid is backed by shipping tycoon Rodolphe Saadé and businessman Marc Ladreit de Lacharrière.
  • Banijay is one of the largest producers in the world, known for hits like "Black Mirror" and "Keeping Up with the Kardashians."

Of note: Along with Courbit, bids for the company have come from Czech billionaire Daniel Křetínský and a broadcaster backed by former Italian Prime Minister Silvio Berlusconi, per Bloomberg.

  • One company that hasn't submitted a bid is Vivendi, which owns French pay TV giant Canal+.
Go deeper