TF1 finalises Newen stake

French commercial broadcaster TF1 has finalised its acquisition of a 70% stake in production outfit Newen, which is being rebranded as Newen Studios.

Fabrice Larue

Newen’s current shareholders and managers retain a 30% stake, with chairman and CEO Fabrice Larue remaining at the helm of his group. Financial details of the deal were not disclosed.

TF1 has made guarantees that it won’t interfere in Newen’s business and will respect confidentiality clauses. This follows an issue with public broadcaster France Télévisions which was unhappy that one of its main programme suppliers was being bought by its main commercial rival.

Discussions between Newen and France Télévisions had been on hold, with the broadcaster threatening to halt all development with the production group.

Talks are now set to resume with the French competition authorities greenlighting the deal as France Télévisions’ shows are secured by contract.

In an interview with newspaper Le Figaro last week, Newen’s deputy CEO in charge of content Bibiane Godfroid, who joined in November, said Newen Studios’ plans were now to develop bigger international dramas such as Versailles.

The company has an ambition to produce two per year, as well as formats and entertainment, and possibly to explore international documentaries.

The group will be looking to achieve that through internal as well as possibly external growth, both in France and abroad.