French TV Duo Snatch 100% Control of TPS Satellite Platform

22 July 2002

French TV groups TF1 and M6 Metropole Television are taking full control of the nation’s number two satellite-TV operator TPS.

The duo are buying the 25% stake not already in their hands from utility group Suez for €160 million ($162m; £103m). Once the deal is complete, TF1 will own 66% of TPS and M6 34%.

The move is considered the first step towards the merger of the loss-making TPS with satellite market leader CanalSatellite, owned by Vivendi Universal and Lagardère.

Data sourced from: The Wall Street Journal Online; additional content by WARC staff