TF1 seals Newen deal

French commercial broadcaster TF1 has concluded the purchase of a majority stake in the holding company of local production outfit Newen.

TF1 has bought 70% of Newen’s holding company FLCP, with existing shareholders and management retaining the remaining 30%.

The deal has provoked a strong reaction in France since it came to light last month, with pubcaster France Télévisions halting all development with Newen as a result.

It marks a first move into independent production by TF1 as it looks to expand into the international coproduction space. Newen is known for high-profile drama series Braquo and Versailles.

The companies say the partnership will give Newen more means to continue its investments, while a bigger budget will be dedicated to research and development.

The duo also wants to initiate partnerships with European producers and broadcasters in format acquisition and distribution, as well as in international coproductions.

TF1 has provided assurances that Newen will retain its editorial and marketing independence but the announcement occurs while the stand-off between Newen and its biggest commissioner, France Télévisions, continues.

This morning a France Télévisions’ spokesman said the assurances do not resolve the issue of the protection of the pubcaster’s investments.

France Télévisions has been threatening to axe some Newen shows, but the company happens to produce some of its best rated series, which it can ill-afford to lose.

Access primetime daily soap Plus Belle La Vie, which brings France 3 audience shares of up to 20%, well above its 9% average, is a Newen production.

The pubcaster is also using the deal to negotiate with the government over more relaxed regulations concerning its investment in independent drama animation and documentary production. The TF1/Newen deal is backed by the French minister of culture and communication.