NextradioTV EUR 89m acquisition of Numero23 nullified by CSA veto; deal with Altice unaffected
NextRadioTV notes the decision taken by French Audiovisual Authority CSA to revoke the broadcasting license of Diversite TV with suspensive effect from 30 June 2016, which renders null and void the acquisition project made by Diversite TV’s Numero 23 TV channel.
It is surprised by the decision, which is unprecedented in terms of sale of TV channels that were submitted to the CSA in the past, to the benefit of the few historical TV groups only.
NextRadioTV notes that CSA is asking Numero 23 to waive two elements that led to this decision, namely (i) the proposed sale in its current terms and (ii) a legal provision of its agreement with a minority shareholder that controls 15% of the business. NextRadioTV will explore options to redesign the project and make it comply with the CSA requirements.
This decision taken by the CSA has for immediate consequence to weaken a newcomer and strengthen the historical actors of the TV sector. The development of a newcomer such as NextRadioTV, not backed by a historical TV group, should be encouraged in order to promote the pluralism, and strengthen the diversity of operators, in line with the objectives of the Act of 30 September 1986.
This decision does not affect the conditions of the public offer made by Groupe News Participations and Altice for NextRadioTV as announced on July 27, 2015