Altice plan for NextRadioTV moves forward

Groupe News Participations, the French joint venture between Altice and media entrepreneur Alan Weill, has secured 95.47% of the shares of NextRadioTV, the company Weill founded, following its public offering.

Groupe News Paricipations previously held 50.42% of the capital and 61.83% of the voting rights of NextRadioTV, which operates news channel BFM TV and entertainment service RMC Découverte, as well as related radio stations.

Altice has an option to take control of Groupe News Participations in March 2019, and also has the options to convert its loans into shares ahead of that date, which would give it control earlier.