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TF1 delivered consensus-beating Q3 results thanks to the Rugby World Cup audiences while Newen continued to lag after an outstanding 2022 vintage. The outlook was reaffirmed as TF1 is poised to benefit from the final stages of the World Cup and the comeback of popular TV shows.
Television Francaise 1 Television Francaise 1 SA
The chronology of events raised doubts on the completion of the proposed merger. Nevertheless, the cancellation of the operation before the date of the final decision by the French Competition Authority in October 2022 is a surprise. While RTL Group will find a new acquirer for M6, the concern on the strategy to avoid the mid-term erosion of revenue remains. It is the same issue for TF1. Bouygues could be tempted by the combination of TF1 with another broadcasting group.
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