Patrick Drahi’s Altice and Alain Weill, founder of NextRadioTV, have acquired 50.42% of NextRadioTV, and are planning an IPO.
Details of the IPO will be announced mid-December for a January launch.
Groupe News Participation, a company owned for 51% by Alain Weill and 49% by Altice, has acquired all shares held by Alain Weill, representing 37.77% of all shares in NextRadioTV and 48.59% voting shares. The group also bought a further 12.66% of capital and 9,02% of voting shares from various shareholders.
NextRadioTV owns and operates the TV channels BFMTV, BFM Business and radio RMC.
The group intends to submit details of the planned IPO to the French authorities, l’Autorité des marchés financiers (AMF), suggesting a price of EUR37 per share, valuing the company at a total of EUR605 million.
