French streaming service Salto looks to be close to the end after it posted a notice on its website saying it was no longer possible to subscribe to the platform.
Local media is reporting a meeting could be held this week that is likely to put the TF1-M6-France Télévisions joint venture out of its misery.
Formed in 2020, Salto had accrued 800,000 subscribers in its two years of operation.
The failed merger of TF1 and M6 had hastened Salto’s demise, with the two would-be partners keen to move on, though there remains the general industry issue of trying to support multiple streaming platforms where only one of them carries your brand.
In January, Spanish company Agile emerged as the only bidder for Salto, but the three partners were unable to reach an agreement on whether to proceed.
In a statement issued Monday, M6 said the total cost of liquidating Salto would run to €66 million; the broadcaster has already accounted for its share of the losses of €22 million.
