Deals
Drahi Teams Up With Weill on $670 Million NextRadioTV Offer
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Billionaire Patrick Drahi is teaming up with media entrepreneur Alain Weill to bid about 607 million euros ($670 million) for NextRadioTV, extending an acquisition streak into French media and taking over one of the country’s biggest news channels.
The deal, which would bulk up media holdings such as daily newspaper Liberation under Drahi’s Altice SA, involves the creation of a new company with Weill, Altice said Monday. The venture is bidding 37 euros a share for NextRadioTV, 16 percent more than the stock’s last close. The shares traded at 36.49 euros as of 10:46 a.m. in Paris.