Television Francaise 1 S.A. (TF1) http://www.alacrastore.com/company-snapshot/Television_Francaise_1_S_A_TF1-1020013 Saturday, October 11, 2008 9:59:09 PM 1020013 Television Francaise 1 S.A. (TF1) en AlacraStore RSS Builder 1.0 30 FRANCE - In August ####, Television Francaise # SA, announced that it was seeking a buyer for its TF# International unit, a Boulogne-based provider of film rights management and distribution services. France Telecom SA, Orange and Tarak Ben Ammar were named potential bidders.8/30/2008 11:01:54 AM81572I88485T81572I87954QSeeking BuyerTF1 InternationalSeeking BuyerTelevision Francaise 1 SAhttp://www.alacrastore.com/storecontent/Thomson_M%26A/TF1_seeking_buyer_for_TF1_International-2007175040sdc/20071750402007175040Copyright © 2008, Thomson Financial, All Rights ReservedInvestment & Commodity Firms,Dealers,ExchangesUnknownInvestors, nec6799UNUnknownPrivate6799:Investors, nec6799:Investors, necMotion Picture Production and DistributionFranceServices allied to motion picture distribution7829FFForeignSubsidiary12029001Seeking buyerOwn,op radio,TV stnNot ApplicableAssets1036736001Aug 30 20080.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000001.00000Seeking buyerSeeking buyerSeeking buyer1.000002.000003.000004.00000TF1 International, located inBoulogne, France, providesfilm rights management anddistribution services.TF1 International, located in Boulogne, France, providesfilm rights management and distribution services.TF1 International, located in Boulogne, France, provides film rights management and distribution services.0.000000.000000.000000.00000N26 Aug 08Tue, 26 Aug 2008 00:00:00 ESTDate Announced: 08/26/2008Date Effective:Acq. of AssetsFriendly0.000000.000000.000000.000000.000000.00000Price/Share0.0000000.000000.0000000.000000.000000.000000.000000.000000.0000000.00000N0.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.00000100.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000001.000002.000003.000004.000005.000006.000007.000008.000009.0000010.0000011.00000FRANCE - In August 2008,Television Francaise 1 SA,announced that it was seekinga buyer for its TF1International unit, aBoulogne-based provider offilm rights management anddistribution services. FranceTelecom SA, Orange and TarakBen Ammar were named potentialbidders.FRANCE - In August 2008, Television Francaise 1 SA, announced that it was seeking a buyer for its TF1 International unit, a Boulogne-based provider of film rights management and distribution services. France Telecom SA, Orange and Tarak Ben Ammar were named potential bidders.FRANCE - In August 2008, Television Francaise 1 SA, announced that it was seeking a buyerfor its TF1 International unit, a Boulogne-based provider of film rights management anddistribution services. France Telecom SA, Orange and Tarak Ben Ammar were named potentialbidders.FRANCE - In August 2008, Television Francaise 1 SA, announced that it was seeking a buyer for its TF1 International unit, a Boulogne-based provider of film rights management and distribution services.France Telecom SA, Orange and Tarak Ben Ammar were named potential bidders.FRANCE - In August 2008, Television Francaise 1 SA, announced that it was seeking a buyer for its TF1 International unit, aBoulogne-based provider of film rights management and distribution services. France Telecom SA, Orange and Tarak Ben Ammar were namedpotential bidders.S Buyer0.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.00000Status:S Buyer-999.00000np0.00000-999.00000np0.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000007822:Motion picture and video tape distribution7829:Services allied to motion picture distribution12029001Unknown6799UnknownPrivate4832:Radio broadcasting stations4833:Television broadcasting stations16655002ParisFrance4832ForeignPublicTFFP0.000000.000000.000000.00000Deal InformationTF Mergers & Acquisitionshttp://www.alacrastore.com/storecontent/spcred/649362spcred/649362normThe latest Research Update from S&Pglobal5/20/2008 1:00:28 PM175Research Update649362FranceBroadcasting & Cable TVEurope, Middle East, AfricaGlobal IssuersCorporationsMedia & EntertainmentResearch UpdateOn May 20, 2008, Standard&Poor's Ratings Services revised its outlook on leading French TV broadcaster Télévision Française 1 S.A. (TF1) to negative from stable on expected weakening of the group's financial profile over the next 12 to 18 months. At the same time, the 'A-' long-term and 'A-2' short-term corporate credit ratings were affirmed. The outlook revision reflects our concerns that TF1's credit measures and cash flow generation may weaken and remain at levels not commensurate with the 'A-' rating over the coming 12 to 18 months. Current advertising sluggishness, sizable costs for the Euro 2008 football sportscast, and high dividend payments are likely to result in low or negative discretionary cash flow in 2008, which may alsoFRA25401020 254010 2540 25Television Francaise 1 S.A.352985EUROMIDAFRTFI@FPRESUPDGLOBISSCORPMediaCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/spcred/649361spcred/649361normThe latest News from S&Pglobal5/20/2008 1:00:00 PM100News649361FranceBroadcasting & Cable TVEurope, Middle East, AfricaGlobal IssuersCorporationsMedia & EntertainmentNewsPARIS (Standard&Poor's) May 20, 2008--Standard&Poor's Ratings Services said today that it revised its outlook on leading French TV broadcaster Télévision Française 1 S.A. (TF1) to negative from stable on expected weakening of the group's financial profile over the next 12 to 18 months. At the same time, the 'A-' long-term and 'A-2' short-term corporate credit ratings were affirmed. "The outlook revision reflects our concerns that TF1's credit measures and cash flow generation may weaken and remain at levels not commensurate with the 'A-' rating over the coming 12 to 18 months," said Standard&Poor's credit analyst Guillaume Trentin. "Current advertising sluggishness, sizable costs for the Euro 2008 football sportscast, and high dividend payments are likelyFRA25401020 254010 2540 25Television Francaise 1 S.A.352985EUROMIDAFRTFI@FPNEWSGLOBISSCORPMediaCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/spcred/632084spcred/632084normThe latest Summary from S&P2/22/2008 1:23:27 PMSummary175global632084FranceBroadcasting & Cable TVEurope, Middle East, AfricaGlobal IssuersCorporationsMedia & EntertainmentSummaryThe ratings on leading French TV broadcaster Télévision Française 1 S.A. (TF1) reflect its superior position in free-to-air TV in the deregulating French market, good free cash flow generation, and conservative financial profile. These factors are partially offset by the group's high reliance on cyclical TV advertising and on its flagship channel TF1, at a time when audience fragmentation is boosted by new technologies. Also negative is the group's lack of geographic diversification. The group benefits from the superior position in the French TV market of its mainstream channel, TF1. In 2007, TF1 had audience shares of 30.7% of individuals over four years of age and 34.8% of women under 50 in nationwide terrestrial TV, the target audience for TF1'sFRA25401020 254010 2540 25Television Francaise 1 S.A.352985EUROMIDAFRTFI@FPSUMMARYGLOBISSCORPMediaCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/spcred/632088spcred/632088normThe latest Full Report from S&P2/22/2008 1:23:27 PMFull Report400global632088FranceBroadcasting & Cable TVEurope, Middle East, AfricaGlobal IssuersCorporationsCapital GoodsHigh TechnologyMedia & EntertainmentBuilding MaterialsTelecommunications & CableFull ReportSuperior position in French free-to-air TV market Increasing TV consumption in a favorably competitive and deregulating TV market Early diversification strategy including in-house thematic channels Track record of moderate programming cost increases outside high-profile sports events Solid cash generation and conservative financial policy Exposure to cyclical advertising revenues Lack of geographic and moderate business diversification TF1 channel's audience share likely to decrease and exposure to new entertainment technologies Modest discretionary cash flow generation Position as potential industry consolidator The ratings on leading French TV broadcaster Télévision Française 1 S.A. (TF1) reflect its superior position in free-to-air TV in the deregulating French market, good free cash flow generation, and conservative financial profile. These factors are partially offset by the group's highFRA25401020 254010 2540 25Television Francaise 1 S.A.352985EUROMIDAFRTFI@FPFULLFRA50102010 501020 5010 50Bouygues S.A.352983EUROMIDAFREN@FPGLOBISSCORPCapitalHighMediaBuildingTelecommunicationsCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/spcred/607299spcred/607299normThe latest Summary from S&P10/12/2007 4:28:55 AMSummary175global607299FranceBroadcasting & Cable TVEurope, Middle East, AfricaGlobal IssuersCorporationsMedia & EntertainmentSummaryThe ratings on leading French TV broadcaster Télévision Française 1 S.A. (TF1) reflect its dominant position in free-to-air TV in the highly regulated French market, good free cash flow generation, and conservative financial profile. These factors are partially offset, however, by the group's high reliance on cyclical TV advertising and on its flagship channel TF1 at a time when audience fragmentation is boosted by new technologies, and by the group's lack of geographic diversification. TF1 had gross debt of €664 million at June 30, 2007. The group benefits from the superior position in the French TV market of its mainstream channel, TF1, which had audience shares of 30.9% and 29% of individuals over four years of age in analog andFRA25401020 254010 2540 25Television Francaise 1 S.A.352985EUROMIDAFRTFI@FPSUMMARYGLOBISSCORPMediaCredit & Investment ResearchS&P Credit Research