An authorization for a terrestrial radio or television service provided in the French language cannot be granted to a company in which more than 20% of the share capital or voting rights are held, directly or indirectly, by persons of foreign nationality.
"Article 40
Subject to France's international commitments, authorization for a terrestrial radio or television service provided in the French language cannot be granted to a company in which more than 20% of the share capital or voting rights are held, directly or indirectly, by persons of foreign nationality.
Subject to the same reservation, no person of foreign nationality may make an acquisition having the effect of increasing, directly or indirectly, the share of the capital held by foreigners to more than 20% of the share capital or of the voting rights in the meetings. general terms of a company holding such authorization.
For the purposes of this article, any natural person of foreign nationality, any company whose majority of the share capital is not held, directly or indirectly, by natural or legal persons of French nationality, is considered as a person of foreign nationality. and any association whose leaders are of foreign nationality.
This article does not apply to service publishers whose capital and voting rights are at least 80% owned by public broadcasters belonging to Council of Europe states and whose share of capital and of the voting rights held by one of the companies mentioned in article 44 is at least equal to 20%.[...]" (Law on Freedom of Communication (Law n° 86-1067 of 30 September 1986), last amended by Ordinance n°2021-650 of 26 May 2021, Article 40 [google translation])
Law on Freedom of Communication (Law n° 86-1067 of 30 September 1986), last amended by Ordinance n°2021-650 of 26 May 2021, Article 40
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