to download the 2012 registration document. - Groupe M6

RISK FACTORS AND MANAGEMENTThe Conseil Supérieur de l’Audiovisuel thus ensures that the channels meet all their obligations.Sanctions incurred in the event of non-compliance with commitments are listed in Articles 42 andsubsequent of the Law of 30 September 1986: summons, suspension, reduction of the broadcastinglicence to a single year, monetary sanctions limited to 3% of revenue or 5% in case of repeat offence,cancellation of the licence.In order to minimise risks associated with production and broadcasting quotas, M6 put into place aprecise daily monitoring of its programming and investments in programme production. In addition, oneof these systems is exclusively focused on monitoring the network, ensuring daily that all programmecontents are in accordance with regulations in force.The Group considers that within an environment where TV channels face numerous challenges and needto adapt to a changing environment (increase in the number of channels, increase in viewing media,insufficient revenue growth, competition from powerful new business players), the growing complexity ofthe audiovisual regulatory framework generates new risks, reflected in new obligations and constraintsthat reduce investment and programming options; regulations are liable to hamper the development andadaptation and innovation capacity of audiovisual groups.b) Risk related to frequency managementThe channels granted to historic private networks by the Law of 5 March 2007 as compensation for theearly switch off of the analogue signal have been called into question by a substantiated opinion issuedby the European Commission in September 2011. France may challenge this pre-litigation ruling and thenetworks involved, including M6, retain this right for the time being. In all cases, the damage suffered hasnot been disputed and historic networks are still entitled to compensation.No other regulations liable to have a significant impact on the Métropole Télévision Group have beenadopted since the start of 2012.4.5.2. Intellectual property, freedom of press and personal privacyM6 Group’s broadcast of audiovisual programmes, whether produced in-house or by third parties, issusceptible to claims of various natures concerning the violation of provisions relating to laws onintellectual property rights, personal privacy rights and freedom of the press.No contractual provision can provide the Métropole Télévision Group with total protection against legalrecourse, particularly with regard to legal action matters based on the Law of 29 July 1881 on thefreedom of the press.In addition, Métropole Télévision Group diversification activities may generate claims regarding theinfringement of the aforementioned rights.Nevertheless, procedures have been implemented within Métropole Télévision Group to protect it fromthis type of risk: contract mechanisms (guarantee clauses) and internal procedures, such as assignmentof legal advisors to production in-charges, guidelines, etc., which enable this risk to be considerablyreduced.124 - M6 GROUP - 2012 REGISTRATION DOCUMENT