TF1 withdrew its two objectives for the 2020 financial year, namely a double-digit current operating margin, and a cost of programmes of 985 million euros (887.24 million pounds).

"In our Broadcasting segment, we have in recent days seen a sharp acceleration in cancellations of advertising campaigns, extending across all sectors," TF1 said in a statement.

"The lack of visibility on future trends in the advertising market, and the expected continuation of the current trend in the second quarter, are likely to have a substantial impact on our first half," it said.

TF1 also said it would be withdrawing the proposed dividend distribution at its annual general meeting on 17 April, although it could review the situation again in August to see if a later dividend payment would be possible.

(Reporting by Sudip Kar-Gupta; editing by Jason Neely)