Cable and telecom investor Altice has taken a 50.42% stake in French media group NextRadioTV, owner of the BFMTV news channel and entertainment service RMC Découverte, in partnership with NextRadioTV founder Alain Weill.
The move, which follows approval by French media regulator the CSA, sees Groupe News Participation, a joint enterprise in which Altice holds a 49% stake and Weill holds the 51% majority share, take a majority 50.42% stake in NextRadioTV. The acquisition will be followed by a public offering in mid-December to acquire the remaining shares in the group.
Altice will retain an option to take control of the TV and radio group as of March 2019.
The project, which was initially unveiled in July, will see Weill participate in Altice’s management as managing director of Altice Media, responsible for the group’s media activities.