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Bouygues, Bertelsmann announce TF1-M6 television tie-up

PARIS, May 17 (Reuters) - Leading French broadcaster TF1 will merge with second-ranked rival M6 under a deal announced on Monday by their respective owners Bouygues and RTL Group, a division of Germany’s Bertelsmann .

The merger will create a new French market leader with 3.4 billion euros ($4.13 billion) in revenue and Bouygues as its 30% controlling shareholder, the companies said in a joint statement announcing the start of exclusive negotiations. The deal is expected to close late next year, subject to regulatory and shareholder approvals. ($1 = 0.8227 euros) (Reporting by Laurence Frost; editing by Jonathan Oatis)

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