[Côte d'Ivoire] M6 Group acquires 33 per cent stake in in Life TV in deal to open broadcast market to foreign entities
M6 Group has announced that it is participating in the creation of the Life TV channel in the Ivory Coast through the acquisition of a 33% stake in the share capital of the Ivorian company of the same name.
This company will operate the DTT channel Life TV, which will be launched in 2018 as part of the opening of the Ivorian TV market to new broadcasters.
Life TV is a general-interest channel aimed at all viewers, with a varied programme schedule (entertainment, news, films, talk-shows, etc.) filled with both local content, mainly produced in-house thanks to a new production studio, the largest in the Ivory Coast with a surface area of 1,000m², as well as programmes from the M6 Group library.
In this project, M6 will be collaborating with Fabrice Sawegnon, CEO of Voodoo Group, the country’s leading communications group, which will specifically bring its expertise in Africa’s French-speaking advertising market, while M6 will provide its savoir-faire in the development of free-to-air TV channels. Vincent Broussard, who has led several television channels in France, including Teva, TF6 and serieclub, will be CEO of the new channel.
By joining forces with Fabrice Sawegnon, founder of Voodoo Group, with this equity investment the Group is entering Africa via an Ivorian market poised for significant growth and confirms its position as a major player in French-speaking TV. This agreement is in line with the proactive policy of risk taking and innovation implemented by M6 Group since its creation.