TF1 (EPA:TFI) - TF1 GROUP FINALISES THE ACQUISITION OF THE AUFEMININ GROUP FROM AXEL SPRINGER

Transparency directive : regulatory news

27/04/2018 17:46

PRESS RELEASE

Boulogne, 27 April 2018

TF1 GROUP FINALISES THE ACQUISITION OF THE AUFEMININ GROUP FROM AXEL SPRINGER

       OLIVIER ABECASSIS APPOINTED CHAIRMAN & CEO OF THE AUFEMININ GROUP

Having obtained the necessary clearances from all the relevant authorities, the
TF1 group and Axel Springer are delighted that they have today finalised the
acquisition by the TF1 group of the majority equity interest held by the Axel
Springer (78.07% of the capital and 77.94% of the voting rights - at a price of
EUR39.47 per share) in the aufeminin group (EBITDA of EUR21.3 million in 2017,
on revenue of EUR113 million). The TF1 group will file a mandatory simplified
tender offer for the remaining shares at the same price.

Following today's meeting of the aufeminin group Board of Directors, the TF1
group announces the appointment of four directors to replace the directors who
represented Axel Springer: Gilles Pélisson, TF1 group Chairman & CEO; Philippe
Denery, CFO; Olivier Abecassis, CDO; and Christine Bellin, VP Strategy,
Development & Transformation. The two independent directors of the aufeminin
group, Marie Pic-Pâris Allavena and Karen Heumann, will remain on the Board.

Olivier Abecassis has been appointed as Chairman & CEO of the aufeminin group,
succeeding Marie- Laure Sauty de Chalon who is leaving the aufeminin group
concomitantly with the divestment by Axel Springer and her own resignation from
the aufeminin Board of Directors.
Olivier Abecassis will be supported by the existing management team - Agnès
Alazard and Christophe Decker (Deputy CEOs), and Patrick Caetano (CFO) - as
they continue to deliver on the strategy implemented by the aufeminin group
team, focused on international expansion and accelerated growth  in social
e-commerce and programmatic advertising.

Olivier Abecassis remains a member of the TF1 group Executive Committee.

With the aufeminin group, the TF1 group has acquired an international digital
player with a brand portfolio and unique female-orientated content, that will
bring added momentum to TF1's digital transformation.

The aufeminin group has built an original revenue diversification model around
its communities, in particular aufeminin, MyLittle Paris, Marmiton and Livingly
Media. Its platforms and social networks now host many communities from around
the world (France, Germany, Spain, Italy, the United Kingdom, the United States
and Japan).

Its business model is based on three strategic pillars: programmatic
advertising, social e-commerce (via the My Little Box, Beautiful Box, Gretel
box and Gambettes box brands in particular); and marketing solutions including
brand content, influence marketing, events and social reach.

With aufeminin, the TF1 group will be able to offer innovative solutions to
brands based on awareness, affinity and influence, thanks to:

- the proximity of aufeminin's verticals to those already carried by the TF1
  group through MinuteBuzz, Studio 71, TF1 Digital Factory and Neweb;

- an enhanced offering by the TF1 group for female targets in which aufeminin
  has acknowledged expertise, iconic brands and an outstanding track record;

- the pulling power of TV, in support of aufeminin group brands;

- the development of video content to give greater visibility to advertisers;

- in-depth understanding of the communities, and of their behaviour and
  expectations.

Gilles Pélisson, Chairman & CEO of the TF1 group, says: "This acquisition is a
decisive step forward in the transformation of the TF1 group. Thanks to the
innovations developed by aufeminin, we are enhancing our ability to reach every
audience specially female audience via powerful and unifying verticals, and to
offer new communication solutions to brands. I am delighted with the
appointment of Olivier Abecassis as Chairman & CEO of the aufeminin group. His
in-depth knowledge of the digital universe and the issues facing our industry,
coupled with his international experience, make him ideally suited to succeed
in his new role alongside the talented teams at aufeminin."

Dr. Andreas Wiele, President Classifieds Media, Axel Springer SE, says:
"Marie-Laure Sauty de Chalon and her colleagues at aufeminin have together
created one of the finest digital success stories in France and Europe.
Aufeminin's strong brands have changed the lives of millions of women for the
better, across the globe, helping drive a fourfold increase in the group's
audiences, revenue and profits. My warmest thanks go to Marie-Laure, the
management and each member of the aufeminin team for their fantastic
achievements."

Evercore acted as financial adviser on this transaction. The TF1 group was
assisted by Darrois Villey Maillot Brochier as legal adviser and Rothschild
both as financial adviser and sponsorbank.

Clifford Chance acted as legal adviser to Axel Springer.

Biography: Olivier Abecassis

Born in November 1973, Olivier Abecassis is a graduate of the French National
Institute of Telecommunications. He began his career in 1996 when he was
involved in the launch of the French satellite broadcaster TPS. At the end of
1998 he joined TF1, becoming Director of New Technologies in 2004.

From 2006, he piloted all of the TF1 group's digital developments, launching
the MYTF1 catch-up video site, now the industry leader in terms of video views;
he was appointed CEO of e-TF1, the Group's digital subsidiary, in 2010. He
oversaw the 2006 acquisition of an equity stake in Overblog, and led its 2010
merger with Teads (then called eBuzzing); he remained as a director of Teads
until it was sold to Altice in 2017.

In 2016, Olivier Abecassis was appointed Vice President, Innovation and Digital
of the TF1 group, tasked with the digitalisation of the Group and with rolling
out its digital strategy. All broadcasting and digital technologies are under
his responsibility, as are information systems.

He also oversees the Group's start-up incubator, which aims to anticipate
trends in media use and monetisation, and in early 2018 secured a partnership
with the Station F campus.

Since 2016, Olivier Abecassis has initiated the acquisitions of a majority
stake in Bonzai Digital, now TF1 Digital Factory, in March 2016; a stake in
Wibbitz, an Israeli start-up behind a text-to-video solution; and a majority
stake in MinuteBuzz, a social media platform founded in 2010.

In 2017, Olivier Abecassis oversaw the creation of an international alliance
between the German group ProSiebenSat.1 and the TF1 group, with the latter
taking an equity stake in Studio71 (the world no.3 MCN) and becoming the
operator of Studio71 in France. He was also involved in the June 2017 launch of
the EBX pan-European airtime sales agency, formed out of a partnership between
TF1, ProSiebenSat.1 and (in Italy and Spain) the Mediaset group. Olivier
Abecassis sits on the boards of MinuteBuzz, Studio71, Wibbitz and EBX.

About the TF1 group (Euronext Paris: ISIN FR0000054900)

The TF1 group is the leading private-sector unencrypted television broadcaster
in France. It broadcasts five complementary unencrypted channels (TF1, TMC,
TFX, TF1 Séries Films and LCI), and four quality pay-TV theme channels (TV
Breizh, Histoire, Ushuaïa and Serieclub, the last of which is 50% owned) to
meet special-interest demand.
The Group is adding a high-powered digital dimension to its channels, via
exclusive content on MYTF1 and video-on-demand offers via MYTF1VOD and TFOU
MAX.
TF1 Publicité, the Group's advertising airtime sales arm, offers advertisers
the combined benefits of access to mass-market television channels, digital
affinity targeting and innovative brand content solutions. It also sells
advertising slots on French independent radio stations and M Radio, on
Discovery Communications channels (such as Eurosport and Discovery Channel),
and on numerous websites.
In conjunction with its core business, the TF1 group is also present in the
production and distribution of content. The Group has recently acquired Newen
to accelerate the international expansion of production and distribution.
The TF1 group has created a large range of complementary businesses in key
areas such as entertainment and leisure with TF1 Entertainment (board games,
music and live show production, licences and publishing); the film industry
with TF1 Films Production and TF1 Studio; and home shopping with Téléshopping.
TF1 is keenly aware of its responsibilities to society, and through its "TF1
Initiatives" approach is committed to instigating and enhancing actions to
promote diversity and solidarity and to protect the environment.

About Axel Springer (DE0005501357 SPR)

Axel Springer is Europe's leading digital publisher. With headquarters in
Berlin, the company is active in more than 40 countries with subsidiaries,
joint ventures, and licenses. Axel Springer SE is divided into three operating
segments: Classifieds Media, News Media and Marketing Media. The company
employs more than 15,000 people worldwide.

About aufeminin
(Euronext Paris, compartment B - ISIN: FR0004042083, Ticker: FEM)

A leading creator of communities, aufeminin is a global media group present in
over 20 countries in Europe, North Africa, North America and Latin America.
Founded in 1999 to explore what a media group can do for women, the Group now
includes iconic brands such as aufeminin, Marmiton, My Little Paris, Merci
Alfred, Onmeda, EtoileCasting, Netmums, Zimbio, StyleBistro, Lonny and Livingly
Media.

Press contacts

TF1 group
Financial Communication comfi@tf1.fr
Corporate Communication: Virginie Duval - vduval@tf1.fr

Axel Springer SE
Jorg Keller
Senior PR Manager
Tel: +49 30 25 91-7 76 17
jorg.keller@axelspringer.de

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TF1 (EPA:TFI) - TF1 GROUP FINALISES THE ACQUISITION OF THE AUFEMININ GROUP FROM AXEL SPRINGER

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