The boardroom departure follows a failed merger attempt by TF1 and rival French TV group M6 to better compete against U.S. streaming giants.
On Friday, Netflix in an SEC filing said Belmer resigning from its board of directors, effective Oct. 27, was “not due to any disagreement with the company.” But it does follow a failed merger between TF1 and rival French TV group M6 to better compete against U.S. streaming giants.
On Oct. 27, a board meeting at TF1 Group, the French broadcaster, will propose Belmer as its new CEO. At that time, Gilles Pélisson, currently CEO and chairman of TF1, is expected to remain chairman as Belmer becomes CEO. And TF1 proposes that at another board meeting planned for Feb. 23, 2023, Belmer will become chairman and CEO of TF1. BelmeThe veteran French media exec taking the helm at TF1and rival M6 dropped plans to join forces after objections from the French competition authorities to their merger. The deal was seen as an attempt by the two commercial TV companies to create a European powerhouse capable of taking on the global streaming giants, including Netflix.
TF1 and M6 failed to convince French regulators during a probe that only by combining forces could big national networks in Europe continue to compete with deep-pocketed streamers as the online platforms expand internationally.
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