French broadcasters merger between TF1 and M6 falls through
The plan, announced last year and backed by the government and public broadcaster France Télévisions, aimed to create a broadcasting powerhouse able to compete against US streaming giants such as Netflix.
France's TV broadcasters TF1 and M6 have decided to give up their controversial merger plans, they announced Friday, reports Politico.
"Following the discussions with the [national competition authority] and despite the additional remedies proposed, it appears that only structural remedies concerning at least the divestiture of the TF1 channel or the M6 channel would allow the transaction to be authorized," they wrote in a joint statement.
The plans, announced last year and backed by the Elysée Palace and public broadcaster France Télévisions, aimed to create a broadcasting powerhouse able to compete against U.S. streaming giants such as Netflix.
