French communications regulator the CSA has approved telco Altice’s takeover of NextRadio TV, the media group that runs the BFM TV and RMC Découverte DTT channels in France.
The deal will see NextRadio chief Alain Weill become the chief of Altice’s TV and media division, Altice Media, and take a 24% holding in that unit.
The deal values NextRadio at about €600 million (US$636.6 million) and gives Altice a minority share, but with the possibility of taking full control at a later date.
Altice, which is owned by Franco-Israeli billionaire Patrick Drahi, recently acquired US cabler Cablevision in a US$17.7 billion deal. It has also been moving more heavily into TV, recently launching the Zive SVOD service in France.