The deal will see NextRadio chief Alain Weill become the chief of Altice’s TV and media division, Altice Media, and take a 24% holding in that unit.
The deal values NextRadio at about €600 million and gives Altice a minority share, but with the possibility of taking full control at a later date.
Altice,which is owned by Franco-Israeli billionaire Patrick Drahi, recently acquired US cabler Cablevision in a US$17.7 billion deal. It has also been moving more heavily into TV, recently launching the Zive SVOD service in France.
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