Metropole Television Sa Stock Price, News & Analysis

M6 Group reported Q3 2022 revenue of €290.1 million, a 5.8% decline year-on-year, primarily due to an 8.2% drop in advertising revenue amidst challenging economic conditions. Non-advertising revenue increased by 2.7%, benefiting from the consolidation of Stéphane Plaza Immobilier. Consolidated EBITA, excluding non-recurring items, rose to €57.2 million (+5.5%). The operating margin improved to 19.7%. For the nine months ending September 2022, revenue remained stable at €954.2 million, reflecting positive non-advertising revenue growth but slight advertising revenue declines. The company's net cash position stood at €188.1 million.

M6 Group and CANAL+ Group have renewed their multi-year agreements for the distribution of all DTT channels including M6, W9, and Gulli, as well as pay channels and services. This renewal ensures that CANAL+ subscribers will continue to enjoy M6 Group's linear and on-demand offerings, improving viewer experience through enhanced content features and extended non-linear broadcast windows. The agreement reflects both companies’ commitment to providing enriched content and innovative services to their subscribers.

Bouygues, RTL Group, Groupe TF1, and Groupe M6 announced the cancellation of their proposed merger of the TF1 and M6 groups, initially revealed on May 17, 2021. This decision follows hearings from the French Competition Authority in September 2022, where it was indicated that structural remedies, such as divesting a major channel, would be required for approval. Despite presenting benefits, the parties recognized a lack of strategic rationale for the merger due to regulatory challenges and expressed regret over the Authority's decision not to consider the evolving broadcasting landscape.

M6 Métropole Television has announced that its first half-year 2022 financial report, covering the period ended June 30, 2022, is available on its corporate website. Investors can access the report under the Finance/Regulated Information section. M6 is listed on Euronext Paris under the ticker MMT (ISIN: FR0000053225).

The French competition authority's report on the proposed merger between Groupe TF1 and Groupe M6 indicates significant competition concerns, particularly regarding the advertising market. The authority suggests that the required remedies could make the merger proposal unviable. Despite this, both parties intend to maintain their original proposal and will respond to the authority within three weeks. Hearings are scheduled for September 5 and 6, 2022.

M6 Metropole Television reported consolidated revenue of €664.2 million for H1 2022, a 3.0% increase from H1 2021. Profit from recurring operations (EBITA) was €161.1 million, down 2.4% year-on-year, though up 8.6% when adjusted for non-recurring items. The operating margin rose to 24.9%, up 1.3 percentage points. Notable growth in non-advertising revenue was 15.7%, driven by cinema recovery and the consolidation of Stéphane Plaza Immobilier. However, net profit fell 20.9% to €94.4 million, reflecting challenges in the advertising sector and increasing costs.

M6 Group reported strong financial results for the first quarter of 2022, with consolidated revenue reaching €322.5 million, up 8.7% from €296.6 million in the same period last year. Advertising revenue increased by 5.3% to €252.2 million, while non-advertising revenue rose 23.0%, benefiting from cinema recovery and new consolidation. Profit from recurring operations (EBITA) was €67.2 million, a 4.5% increase year-over-year. The operating margin remained stable at 21.5%. A dividend of €1.00 per share is proposed, with an ex-dividend date of May 4, 2022.

M6 Group has signed a contract with Altice Media for the sale of the 6ter channel, following consultations with Employee Representative Bodies. The transaction's completion is contingent upon approval from the French Competition Authority and ARCOM, as well as the finalization of the merger between M6 and TF1 Groups. This development signifies a notable shift in the broadcast landscape in France.

M6 Metropole Television has announced a Combined General Meeting for shareholders, scheduled for April 26, 2022, at 9:00 am at the Cinéma Le Village, Neuilly-sur-Seine. The preliminary notice, including agenda and proposed resolutions, was published in the BALO on March 18, 2022. Additional notice will be published in les Petites Affiches on April 6, 2022. Shareholders can access related documents starting from the notice of meeting, with registered shareholders able to request documents until April 21, 2022.