BollorÃ© Media has confirmed that it is in exclusive negotiations to acquire French digital-terrestrial channel Virgin 17 from LagardÃ¨re, consolidating its position in the DTT market.
If an agreement is struck, BollorÃ© will take over the channelÂs personnel, but will create a new identity for the channel and will not use the Virgin 17 brand. The move will give BollorÃ© a second DTT channel in France alongside Direct 8.
The sale is also indicative of LagardÃ¨reÂs desire to rationalise its audiovisual arm, which has seen revenues fall over the last year. LagardÃ¨re, which intends to retain the Virgin 17 radio service, expects to gain about Â70m from the sale of the TV channel. LagardÃ¨re has separately announced that it will launch a new Â360Â° global media brandÂ aimed at young women, Be, which will include TV programmes to be distributed on Virgin 17, as well as a weekly magazine, a website, iPhone application, web radio service and e-commerce portal.Â
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