PARIS (AP) — Two of France's top executives are teaming up in a joint venture focused on international media projects.
Under the terms of the deal announced Monday, Alain Weill's NextRadio TV, a major independent French news network, will become a subsidiary of Altice, one of the country's largest telecoms companies.
Weill's stake will be transferred to Altice and he would ultimately take charge of Altice's media properties. Weill is the founder and CEO of NextRadio TV, which owns the BFM television and RMC radio networks.
Altice's CEO, Patrick Drahi, has been on an acquisitions spree in recent months, notably with a $9.1 billion deal for St. Louis-based cable operator Suddenlink and an attempt to buy French rival Bouygues Telecom over the objections of the French government.