BOULOGNE, 10-Jul-2019 — /EuropaWire/ — France’s leading private-sector television broadcaster TF1 Group has decided on a Board meeting to exercise earlier its option to increase its stake in Play Two. Following the transaction, TF1 Group will now control the majority (51%) of the music production and entertainment company.
Play Two has just been launched in late 2016, but is already the leading French independent label since 2017. Founders are Julien Godin and Sébastien Duclos and the music production and entertainment company already supports the careers of popular artists such as Gim’s, MC Solaar, David Hallyday, Trois Cafés Gourmands and Kids United.
The current deal is part of TF1 Group’s strategy to be a leading partner of the music industry and its talents, through the exposure of French and international talents on its channels, notably TF1 and TMC, and via its music-related subsidiaries: TF1 Musique (partnerships with record companies and artists’ producers), TF1 Spectacle (partnerships on live shows and with major event producers), Une Musique (music publishing and the Kaptain music library), and STS (management of the Seine Musicale venue).
Commenting on the Play Two deal, Gilles Pélisson, Chairman and CEO of TF1 Group, said:
“By strengthening our position in the music industry, we are once again affirming our ambition to be a key player in the entertainment industry. With Play Two, a growing label, we confirm our determination to play an even more active role in the artistic world by supporting innovative projects and very unifying talents.”
Commenting on TF1 group’s stake in Play Two, Julien Godin and Sébastien Duclos, co-founders of Play Two, said:
“In just a few months, Play Two has become a central player in the music and entertainment industry. Strengthening the TF1 group’s stake in Play Two will enable the company to accelerate its development and offer artists and producers an even more efficient and tailored structure to keep pace with changes in the music and entertainment markets.”
TF1 group in brief
Listed on the on the Paris stock exchange (Euronext Paris: ISIN FR0000054900), TF1 group is the leading private-sector television broadcaster in France. The group is active in 10 countries and currently employs 3,135 people.
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SOURCE: TF1 group