(Reuters) – M6 reported on Tuesday a drop in its annual turnover with the decline in television advertising revenue, and announced the upcoming appointment of a new chairman of the board to replace Nicolas de Tavernost.
The group’s turnover stood at 1.32 billion euros as of December 31, 2023, down 0.7% year-on-year on a like-for-like basis. TV advertising revenue amounted to 905 million euros, down 2.2% year-on-year.
“The economic context, marked by inflation, weighed on advertisers’ advertising investments,” M6 said in a press release.
The television group also said it expected to achieve a balanced budget in 2027 and proposed a dividend of 1.25 euros for the 2023 financial year.
In a separate press release, M6 announced the departure of Nicolas de Tavernost from the presidency of the board. The group added that its Supervisory Board has already appointed a successor, David Larramendy, whose appointment will take place following the combined general meeting of April 23, 2024.
(Written by Augustin Turpin, edited by Jean-Stéphane Brosse and Tangi Salaün)
Copyright © 2024 Thomson Reuters
I have over 8 years of experience working in the news industry. I have worked as a reporter, editor, and now managing editor at 247 News Agency. I am responsible for the day-to-day operations of the news website and overseeing all of the content that is published. I also write a column for the website, covering mostly market news.
