Altice to sell press, TV assets to SFR - report

Nieuws Algemeen Frankrijk 25 APR 2016
Altice to sell press, TV assets to SFR - report

Altice chairman Patrick Drahi is merging daily newspaper Liberation, weekly magazine L’Express and other press and TV assets he and Altice own into broadband and mobile operator Numericable-SFR, reports Journal du Dimanche. According to the weekly, SFR could acquire the titles and TV channels Altice bought over the last two years as early as 27 April. 

These include L’Etudiant, Israeli news channel i24 News and 49 percent of NextRadioTV, the owner of news channel BFMTV and radio stations RMC and BFM Business, that was 49 percent bought by Altice in July 2015. Altice said it would grow NextRadioTV into a diversified media company. Alain Weill will keep his 51 percent stake until at least 2019. 

The press assets and i24 News are estimated to be worth EUR 100 million combined and half of NextRadioTV around EUR 300 million, writes Journal du Dimanche, but the transaction’s terms are not known. 

SFR announced earlier this month that it would offer free access to a selection of magazines and newspapers, including Liberation, L’Express and other Altice group media businesses, on some of its mobile plans.

Categories:

Algemeen

Companies:

Altice Europe,  Numericable-SFR,  i24 News

Countries:

Frankrijk,  Israël

Tags:

IT - applications, Wireline, Wireless, Internet Access, Broadcast, Corporate strategy, M&A buyouts & divestments

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