Bertelsmann has learned to its detriment not to ignore regulators’ warnings, writes pierrebri
after regulators warned the group that time was running out to renew M6’s free-to-air licence. Once renewed, Chief Executive Thomas Rabe will be stuck with the TV channel for five years.
The flop is a setback for Rabe. A sale of the media group’s sought-after 48% stake in M6 may have fetched up to 1.2 billion euros, according to people familiar with the sale process. Bertelsmann will now have to contend with its share of the French unit’s dividends – north of 100 million euros this year, based on Refinitiv estimates. But Rabe has other options.
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