French television producer-distributor Groupe AB, which also operates cable and satellite channels in France and Germany, has announced plans to seek a secondary listing on the Paris Stock Exchange.
The company, which acquired leading French cable and satellite channel RTL9 from CLT-Ufa in May 1998, has been listed on the New York Stock Exchange since 1996. AB operates another seven thematic channels in the French market and music channel Onyx in Germany. It sold 51% of AB Sports to Pathe in October 1998.
Total subscriptions to AB's French channels reached 400,000 in December 1999. Onyx reaches 10 million households in Germany.
The company, run by founder Claude Berda, has sold 80% of its drama production activities to Berda's former partner Jean-Luc Azoulay. The group is still active in film production through Raphael Films and also produces animation and documentary programming.
As a result of divestments and increased revenues from its broadcast divisions, AB reported a decrease in net loss from $22.5m (FFr151.3m) in the second half of 1998 to $3.8m (FFr25.8m) for the same period in 1999. Revenue for the period increased from $50.6m (FFr340.9m) in 1998 to $58m (FFr391.8m) in 1999.