TF1 group has bought out the Principality of Monaco’s 20% stake in TMC, giving it 100% ownership over the digital terrestrial channel.
The transaction will be carried out via a share exchange, enabling the Principality of Monaco to retain a 1.1% equity interest in TF1.
“The transaction has no effect whatsoever on the way the channel – whose head office and operations are based in Monaco – is currently run,” said TF1 in a statement. “This deal represents a further step in the TF1 group’s ongoing multi-channel strategy.”
TMC, or Télé Monte Carlo, is a French freeview channel aimed at a 25-49 year-old target audience. Its schedule is based around four key genres – movies, current affairs, French drama and entertainment with a focus on French comedy.
TMC has been fully consolidated in TF1’s financial statements since 2010 and TF1 claims the channel attracted the highest evening viewing figures of any French freeview DTT channel last year.