By Mauro Orru
Bouygues SA and RTL Group SA have signed agreements to merge French TV networks Television Francaise 1 SA and M6-Metropole Television SA, a move set to create a streaming-focused French operator.
The companies entered into exclusive talks in May over a merger between Bouygues-controlled TF1 and RTL-controlled M6.
Bouygues said Thursday that the signing came after employee representative bodies of the French construction-and-media conglomerate, TF1 and M6 all issued favorable opinions on the proposed merger.
The transaction should close by the end of 2022.
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(END) Dow Jones Newswires