TF1 finally gets hold on NT1 and TMC
June 11, 2010
The light turned green. This Friday, TF1 has announced the completion of its acquisition of the entire channel NT1 and 40% of the TMC to Group AB. The group also obtained regulatory approvals from the Competition Authority and the Higher Council of Audiovisual (CSA), a sudden concessions, particularly in advertising.
The integration of the two chains, which buy for 192 million euros announced in May 2009, is one of the reasons which led up to TF1 in May from 2% to 4% of its target growth of its sales annual business. TF1 sees them as its new growth.
The subsidiary of the Bouygues group added that the effects of the acquisition in its accounts of the two chains of TNT will be felt from the third quarter.The turnover and the group accounts for that period will be published on November 9.
The announcement was welcomed in stock: shares TF1 s'adjugent 2.3% to 11.9 euros, when the contract (ACC 40) earns 0.77% to 3543 points.
The advertising recovery "even more than expected"
Oddo, which held a forum Media in late May, is sure, "resumed advertising undertaken since the low point hit last summer is stronger than expected, particularly with the United States and emerging countries" instant payday loan.
Despite the lack of visibility into the second half, Vruno Herring, an analyst who follows the sector, has decided to take up – again – its global advertising growth forecast for 2010 to 4% contre2.5% previously.
In this context, the specialist advises privlégier cycliqyes values, as TF1, HAVS and JCDecaux, which "offer an interesting potential for margin growth."
"We are measured over the short term on issues such as NRJ (problems with hearing), and WPP (sector risks from market research)," said the broker. Finally, within the conglomerates, Vivendi prefers to Lagardère.
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