France 24 agrees TF1, France Télévisions exit

France 24’s work council has agreed on France Télévisions and TF1’s exit from the capital of the French international news channel.

The stakes of both shareholders will be ceded to holding company Audiovisuel Extérieur de la France for € 2M each. The new holding will then fully own France 24.

But TF1 and France Télévisions have not cut their partnerships with France 24. Both networks will keep providing France 24 with news and archive programmes over seven years. This will bring back €1m each year to FTV and €1.5m, including €900,000 for Eurosport, to TF1.