CSA lifts limit on voting rights in Groupe M6

01.08.2017, France, Groupe M6

On 27 July 2017, Groupe M6 signed an agreement with the French Higher Audiovisual Council (CSA) resulting in the removal of the capping imposed on the voting rights of shareholders solely or jointly owning more than 34 per cent of the Group's capital. 

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The new agreement between the CSA and Groupe M6 will enter into force on 1 January 2018. Under the terms of the new agreement, the CSA abolished the capping of the voting rights of any shareholders solely or jointly owning more than 34 per cent of the capital in Métropole Télévision.

RTL Group (as CLT at the time) was one of the founding shareholders of M6 and since 2004 Groupe M6 has been fully consolidated in RTL Group’s accounts. In accordance with Article 35 of the Bylaws of Métropole Télévision, RTL Group will be able to fully exercise the entirety of its voting rights – currently 48.26 per cent – at any shareholders' meeting held from 1 January 2018 onwards.

Additionally, the CSA published the renewal of the broadcasting license awarded to the French channel M6 in the Journal Officiel on 30 July 2017. It will be valid for five years, starting on 6 May 2018.

As reported, RTL Group currently plans to regroup its French radio operations into Groupe M6. For RTL Group, lifting the limitation of voting rights was an important condition for combining Groupe M6 with its 100 per cent subsidiary RTL Radio (France). 

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