France’s top two commercial channels, TF1 and M6, have decided to sell their stakes in Salto, the French streaming service, Variety has confirmed. That will leave Salto without two of its three parent companies.
The service, which launched in 2020 after multiple delays, was created by TF1, M6, France Televisions in an effort to give subscribers a local alternative to Netflix (which now has over 13 million subscribers in France) and other global services.
TF1 and M6’s decision to exit Salto, which was taken during a supervisory board on Nov. 17, appears to be motivated by several factors, including from obligations that were imposed by the anti-trust board which they deemed too burdensome.
The news was first reported in the French news outlet La Lettre A.
More to come.
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