France Télévisions is selling its 34% stake in kids channel Gulli to Lagardère Interactive.
The announcement was made by Lagardere’s Denis Olivennes in at tweet at 5.20pm on Friday, December 20. The news follows months of negotiations between the private broadcaster and public broadcaster France Télévisions.
The deal gives Lagardère Interactive full control of the children’s channel and gives the pubic broadcaster the change to redevelop its France 4 net into its own kids channel.
Part of the agreement is a clause that limits the number of commercial breaks on France 4, which will become a competitor to Gulli.
According to French press reports, the deal is worth around EUR25 million, will be closed early 2014, and is subject to regulatory approval.