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Just a year and a half after rebranding its production-distribution group into Studio TF1, France’s leading commercial network TF1 has quietly put it on the market, Variety has confirmed.
The broadcasting group, which
is presided over by former Netflix board member Rodolphe Belmer since 2023, has hired Rothschild to oversee an early-stage sale process, according to a Reuters which was first to report the news. The outlet also cited a source reporting that the business could be valued at around €400 million.
Contacted by Variety, TF1 said it “does not comment on rumors or market speculation.”
Previously named Newen, the banner was acquired by TF1 in 2015 and became of one of France’s largest independent production and distribution groups, encompassing more 50 production companies and labels across 12 territories.
The potential sale comes as TF1 looks to shift its investment toward streaming under Belmer’s leadership. TF1’s first-half results, released last week, reflected the pressures facing TF1, which saw its revenue drop by 9.9% to €993 million, with revenue from its media division declining 10.8% to €869 million. Current operating profit also fell to €77 million.
Studio TF1, meanwhile, posted an operating loss of €4 million. The broadcaster pointed to the absence of major Netflix deliveries and a television delivery schedule concentrated later in the year. Last year’s results were boosted by several TV shows, including “Blind Sherlock.”
The production-distribution banner has been mainly active in the TV landscape. It produced 3750 hours of programming in 2025, including long-running French soap operas airing on TF1, such as “Tomorrow is Ours” (“Demain Nous Appartient”) and “Here It All Begins” (“Ici Tout Commence”), as well as Christmas TV movies produced by its Canadian outfit Reel One. But it’s also tried to make inroads in the movie business in the last couple years, pledging to doubleits film production by 2027, aiming for 10-15 films annually, partly to have greater control over IP. After enlisting Pierre Branco, former head of Warner Bros Discovery in France, Benelux and Africa, as its new CEO, Studio TF1 also launched theatrical distribution operations at the start of 2026 and made its first full release in French cinemas with Reem Kherici’s sex-toy comedy “Good Vibes Only” which sold more than 700,000 tickets. Four more movies are on the company’s release slate, including Laszlo Nemes’ period movie “Moulin” starring Gilles Lellouche which competed at the Cannes Film Festival.
Aside from its costly – and risky — production and distribution business, Belmer has increasingly looked to reposition TF1 around streaming and aggregation. The executive, who previously ran Canal+ Group, spearheaded the launch of an AVOD service, TF1+, and also struck a partnership with Netflix, to have its five live channels and on-demand content carried on Netflix.
In an interview with Variety,Belmer said the deal with Netflix reflected TF1’s goal of maximizing the reach of its content beyond its own platforms. “The first phase of our strategy was to make TF1+ the leading AVOD service to monetize our programs, not just on linear but also on streaming,” he said.
While it’s exploring a sale of Studio TF1, the group is rumored to be eyeing a renewed bid for rival commercial network M6, according to Reuters. TF1’s previous attempt to merge with M6collapsed in 2022 after French regulators requested antitrust remedies deemed unfeasible.
TF1 isn’t the only European media group seeking to unbundle their production and broadcasting businesses. Over in the U.K., ITV are selling their media and entertainment arm to Comcast-owned Sky, while its production outfit ITV Studios will be spun off as an independent listed company.
