French broadcaster TF1 is in talks to buy Axel Springer’s 78.43% stake in Aufeminin – a digital media group that owns a number of female-focused brands.
Aufeminin owns brands including Joyce, Lonny, Marmiton, My Little Paris, Netmums, Onmeda, StyleBistro and its eponymous Aufeminin portal.
These brands target a combination of both French and international audiences.
“Whether or not an agreement will be reached by the negotiating parties, as well as the terms of such an agreement, will depend on the further progress of the discussions,” said TF1 in a statement.
“The conclusion of a binding share purchase agreement is as required by French law dependent on, inter alia, the prior implementation of an information and consultation procedure of the works councils of Aufeminin and Télévision Française 1 (TF1). Further, completion of a transaction would require clearance by the competent cartel authorities.”
Aufeminin is listed on Compartment B of Euronext Paris stock exchange, which is for companies valued at between €150 million and €1 billion. Its current market cap is €295.2 million.
18 September 2020 @ 18:00:02 UTC
18 September 2020 @ 17:05:00 UTC