TF1 closes in on €192m deal for AB channels

TF1, France’s largest commercial broadcaster, is close to taking full control of the TMC channel and a significant stake in NT1. Both channels are carried on France’s TNT DTT service and the deal outlined would see TF1 acquire the stakes from Groupe AB for €192 million.

TF1 confirmed it is in exclusive talks with Groupe AB and said it hoped to conclude a deal within weeks. Earlier reports had linked TF1 with a full takeover of Groupe AB. It already has a 33.5% stake in the media company.

NT1 is a general entertainment channel launched in March 2005. TF1 already owns 40% of TMC, which is also a general entertainment channel.

TF1 is also said to be interested in upping its stake in WB Television, which operates the French-language Belgian channels AB3, AB4 and Videoclick.