A few months after entering the capital of the Lagardère group, Vivendi aims to take control: in recent days it has announced its intention to acquire the package of 18% owned by the Amber Capital fund and that it will then present the Opa. Vivendi, which already has 27% of Lagardère’s shares in its portfolio, has set December 15, 2022 as the time horizon, offering 24.1 euros per share, thus recognizing a premium of about 20% compared to the quotations. However, the transaction must obtain the green light from the CSA (Conseil Supérieur de l’Audiovisuel), the Autorité des Marchés Financiers and the European Commission. In order to finance the acquisition, Vivendi’s owner Vincent Bolloré sold shares in Universal Music (retaining a sufficient 10% to maintain control), before listing the music giant on the Amsterdam stock exchange. The listing was a success, because compared to the placement fee set at 18.5 euros per share, the shares rose to 26.45 euros (+35%), giving the group a value of around 45.5 billion euros compared to 33 at the placement.
In 2017, news that Norway was the first country to switch off the FM band in favour of DAB grabbed headlines. The idea tickled the imagination, so few verified it. But it was a hoax: the sensationalism of the news had overshadowed the reality. What abandoned FM was public radio NRK and, above all, the commercial networks. NRK occupied two frequencies out of three of those active in the country: 2000, compared to 1000 of all other radio stations, networks included. The main beneficiary of this operation was public radio: concentrating in a single multiplex four national networks, divesting hundreds of transmission sites (they were 700) and decommissioning FM transmitters nearing the end of their life, would have realized great economies of scale.
Towards a five-year extension
Of the remaining frequencies, 40% (400) have been switched off by private networks and large commercial radio stations, especially in the capital and in large urban areas. But the others are still on the air: 552 (data from www.fmlist.org) used by 100 radio stations, many of which declare on their website that they are proud to continue in analogue. Some stations have also switched on DAB muxes (there are several used by a single station, which at most host two or three thematic channels) to keep up with the news. Broadcasting will continue until at least 2026: Mari Velsand, director of the Norwegian Media Authority recommended the government extend the FM licenses another five years, believing that media diversity would be compromised if the shutdown occurred at the end of 2021, as planned.
Despite risking imprisonment of up to six years and a fine of up to US$54,000 for what the law calls “aggravated theft of the radio spectrum,” illegal stations proliferate in Peru, and the Ministry of Transport and Communications (MTC) is working hard to disable them. In the last five years, the MTC has filed 910 criminal complaints, made 714 precautionary seizures and seized more than 2300 pieces of equipment. Improper use of radio signals also degrades the quality of services received by citizens, and interference with aeronautical communications can create dangerous situations. And it is not only broadcasters who risk penalties, but also advertisers: airing commercials on an abusive station is a serious administrative offense, and the fine ranges from $11,000 to $32,000.