Three French local authorities have become shareholders in news broadcaster Euronews.

The allocation of shares to the Rhône-Alpes Region, the department of Rhône and the Greater Lyon Urban Community was unanimously approved at a general meeting of shareholders last week. Each authority will take a 1.5% stake in Euronews.

Michael Peters, CEO of Euronews, said, “As CEO, but also as a long-time resident of Lyon, I am particularly delighted and proud of this event, which is exceptional and a first in France. It further strengthens our historic ties with the local area. Like Atlanta, London and Doha, our goal is to make Lyon, the Department and Region a world media capital. Our channel and all of our digital platforms will ensure a high profile for Lyon, thanks in particular to the quality and variety of major international events held in the city and region.”