With the green light from the Competition Council, SNRT completes its takeover of Medi 1 TV – Le1

The recent reorganization of the Board of Directors of Medi 1 TV marks a key step in the restructuring of the Moroccan public audiovisual centerinitiated in 2021. This transformation, at the heart of a financial and strategic vision, reflects Morocco’s ambitions to modernize and strengthen its audiovisual sector.

In the wake of the finalization of the acquisition of Medi 1 TV by SNRT, a new era is opening for the governance of the Tangier channel. This strategic movement, part of the constitution of the Moroccan public audiovisual center, gave rise to a profound reorganization of its board of directors. A reshuffle which is not limited to cosmetic adjustments, but which reflects an assumed desire to rationalize governance, harmonize the forces present and strengthen cohesion between the main entities of the public sector.

According to information reported by The Deskthis reconfiguration did not happen without significant movements. Significant departures, strategic appointments and redistribution of seats within the board, all the ingredients of a real institutional reshuffle are there:

1. Exit of CDG Invest :
   • CDG Invest, which until now held 100% of the capital of Medi 1 TV, is leaving the shareholding.
   • The representatives of CDG Invest on the board of directors, Rachid Laaziri (CFO) and Driss Bennani Hassan (Delegate Director), are also withdrawing from the governance of the chain.

2. Reappointment of the President : Hassan Khiyar, CEO of Medi 1 Radio and Medi 1 TV, retains his position, ensuring managerial continuity.

3. Arrival of new strategic players :
   • The SNRT, represented by its president Faïçal Laraïchi, takes a prominent place as a legal entity administrator.
   • ANGSPE (National Agency for the Strategic Management of State Participations) is represented by Reda Makhtoum.
   • Abdelaziz Boujdaini, Secretary General of the Department of Communication and director of the Moroccan Cinematographic Center (CCM), sits on the board of directors.
   • Salim Cheikh, Managing Director of SOREAD-2M, also joins the board of directors of Medi 1 TV.

This reorganization reflects a desire to better align the strategic objectives of Medi 1 TV with those of SNRT, particularly in terms of production of local content, rationalization of costs and exploitation of synergies between the entities of the audiovisual division.

Here is the complete, precise and enriched timeline on the acquisition of SNRT and the constitution of the public audiovisual center in Morocco, with the addition of the reorganization of the Board of Directors of Medi 1 TV.

Timeline for the creation of the public audiovisual center

2020 – Launch of the public broadcasting reform

• Reflection on the reform of the Moroccan public audiovisual center was initiated in 2020 under the leadership of Driss Jettou, then president of the Court of Auditors.
• Main objective: Create an integrated public audiovisual center bringing together SNRT, 2M (SOREAD) and Medi1 TV to strengthen the competitiveness and efficiency of the public audiovisual sector.

May 2021 – Official announcement of the creation of the public audiovisual center

• May 25, 2021: Othman El Ferdaous, then Minister of Culture, Youth and Sports, announced the transformation of SNRT into a public audiovisual holding company. SNRT becomes the parent company of the cluster and will have 2M and Medi1 TV under its control.
• Goals :
  • Operational and editorial synergies.
  • Rationalization of costs.
  • Strengthening local content production.

March 2023 – The SNRT CA is valid l’acquisition Medi1 radio

28 Mars 2023: The Board of Directors of SNRT has concluded a transfer contract between SNRT, the Société Financière de Gestion et de Placement and the companies Capital O and Bank of Africa, with the definition of the conditions and modalities of implementation.

May 2023 – Notification to the Competition Councile

• May 13, 2023 : SNRT notifies the Competition Council of its plan to take control of Medi1 Radio.
  > Share of rights acquired : 86.3% of the share capital and voting rights of Medi1 Radio.
  > Impact : Addition of a radio component to the public audiovisual center.

December 2023 – Finalization of specifications

• December 5, 2023 : The Minister of Youth, Culture and Communication, Mohamed Mehdi Bensaïd, announces that the specifications for the public audiovisual center are 90% finalized.

> Implementation : The new specifications must come into force at the beginning of 2024.

> Goals :

• Strengthening national production content.
• Regulation of program schedules.
• Strengthening the attractiveness of public audiovisual content.

February 2024 – Green light for the acquisition of Medi1 Radio and Régie 3

• February 16, 2024 : The Head of Government, Aziz Akhannouch, signed decree n°2.23.679 authorizing the National Radio and Television Company (SNRT) to acquire 86.3% of the capital of Medi1 Radio and its subsidiary Régie3.
  > Impact : The political signal is given, allowing the transaction to take control of Medi1 Radio by SNRT to be finalized.
• February 28, 2024 : Finalization of the acquisition of Medi1 Radio by SNRT.
  > Impact : The SNRT integrates radio into the public sector, which strengthens the synergy between communication channels (television, radio, digital).

Notification to the Competition Council for Medi1 TV

• May 16, 2024 : SNRT notifies the Competition Council of its intention to take exclusive control of Medi1 TV.
  > Share of rights acquired : 100% of the share capital and voting rights of Medi1 TV.
  > Impact : This approach aims to integrate the television channel into the public audiovisual division alongside 2M and Medi1 Radio.
  > Official link : Press release from the Competition Council.

June 2024 – Green light from the Competition Council

• June 13, 2024 : The Standing Commission of the Competition Council, chaired by Ahmed Rahhougives the green light to the acquisition of Medi1 TV by SNRT.
  > Official authorization of the economic concentration operation.
  > Strategic impact : SNRT becomes the main player in Moroccan public broadcasting, integrating Medi1 TV, 2M and Medi1 Radio under the banner of a single entity.
  > Official link : Press release from the Competition Council.

August 2024 – Recommendations of the AGO for the appointment of new members to the board of directors of Medi1 TV

• August 2, 2024 : Holding of the AGM of Medi1 TV which proposed the reorganization of the Board of Directors of Medi1 TV.

> Sorties :

• CDG Invest leaves the capital of Medi1 TV as well as its representatives.

> New members :

• SNRT becomes a director, represented by its president.
• Renewal of Hassan Khiyar.
• Appointment of the ANGSPE representative.
• Appointment of the SG of the Ministry of Culture.
• Nomination du DG de SOREAD – 2M.

End of 2024 – Official constitution of the public audiovisual center

• December 2024 : The SNRT finalizes the constitution of the public audiovisual centerbringing together the following entities:

1. SNRT (Parent company of the cluster)
2. 2M (SOREAD)
3. Medi1 TV
4. Medi1 Radio

> Impact : Creation of a integrated public audiovisual power.

> Goals :

• Birth of a integrated audiovisual hubstrengthening coordination between television, radio and digital content.
• Increase in advertising revenue. With a single entry point for advertisers, following the absorption of Régie 3, contract negotiation is simplified, which strengthens the power of the SNRT.
• Promoting local content : The convergence of channels makes it possible to increase the attractiveness of Moroccan content to audiences and advertisers.
• Cost reduction : The consolidation of infrastructure, equipment and human resources makes it possible to achieve economies of scale.
• Support for regional and international competitiveness of the Moroccan audiovisual sector.