Bertelsmann Decides Against Selling Stake in French TV Group M6

German media giant Bertelsmann SE & Co. decided not to proceed with the sale of its stake in Groupe M6 citing “legal risks and uncertainties,” despite receiving “financially attractive offers.”

Three groups of buyers including French producer Stephane Courbit, French billionaire Xavier Niel and Czech billionaire Daniel Kretinsky have made offers for Bertelsmann’s 48% stake in M6. Bertelsmann is M6’s largest owner and was keen to offload the stake before May, when the channel is set to renew its license with media regulator Arcom, preventing a change of control for five years.

“RTL Group remains convinced that market consolidation ...