Banijay Group chairman among bidders for French TV giant M6
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+.