Bertelsmann is considering the sale of its French commercial TV network M6.
The German media group has reportedly approached Vivendi, owner of Canal+, and the cable network Altice Europe.
In a story first reported by Reuters, Bertelsmann is hoping to net around €3 billion from the sale of a majority stake. In addition to M6 itself, holding company Metropole Television SA is also home to France’s largest commercial radio station RTL.
Reuters says that TF1 Group and Italy’s Mediset have also been approached, as has the Czech billionaire Daniel Kretinsky, who owns stakes in French newspaper Le Monde and Bertelsmann’s domestic rival ProSiebenSat.1.
Talks are said to be an early stage with no guarantee that they will lead to a sale.
Like many European broadcasters, Bertelsmann’s RTL is facing a decline in commercial revenues as a result of the coronavirus pandemic.
