TF1 interested in Skyrock

AXA Private Equity could have found a suitable buyer for Skyrock in the shape of TF1, the French television company. According to reports, TF1 would be willing to purchase Orbus, the holding company, to take hold of the radio station and its web blogs.

Over the summer Yahoo! had attempted to acquire the company for $400m, but both Pierre Bellanger, the company CEO, and AXA Private Equity, which holds an 80% stake in the business, considered the sum insufficient. The news should be a boost for Skyrock, which has just seen its CEO handed a prison sentence.

AXA PE originally purchased its stake in Skyrock in 2006 form Morgan Grenfell Private Equity and Goldman Sachs Capital Partners in a secondary buyout worth around EUR100m.

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