French broadcaster TF1 has made a firm offer for Axel Springer’s 78.4% stake in female-focused digital media group Aufeminin.
TF1 will pay €37.74 a share for the majority stake, giving a total investment of €365 million. Once the purchase is completed, the broadcaster will make an obligatory public offer for the remaining shares at the same price.
TF1 previously had said it was in exclusive discussions over the potential acquisition, which will put it in charge of digital products covering topics such as fashion, beauty, lifestyle, cooking and health.
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.
TF1 said it expected the deal to close in the first half of next year, pending regulatory approval in France and Austria.
Marie-Laure Sauty de Chalon, CEO of Aufeminin will retain her role under TF1’s ownership, the broadcaster said.
The broadcaster believes that Aufeminin will complement its existing digital assets including MinuteBuzz, Studio 71 and TF1 Digital Factory, as well as reinforcing its position with a female audience. It plans to develop video content to enhance the profile of Aufeminin influencers.
Aufeminin’s international presence could also help boost TF1’s drive to develop pan-European advertising through its participation in the EBX initiative with ProSiebenSat.1 and Mediaset.
“This acquisition, when finalised, will represent a major step in the transformation of TF1 Group,” said TF1 CEO Gilles Pélisson, who added that the innovations developed by Aufeminin and My Little Paris in particular would enable the group to reach a key target audience and offer new brand solutions.