Overview

• France Télévisions’ 2025 budget shows a €40 million deficit, which the audit says confirms a financial dead end despite prior efficiency gains.
• The report orders immediate structural reform with a priority on renegotiating the 2013 collective agreement; president Delphine Ernotte Cunci has already denounced the pact and says she backs all recommendations.
• The state shareholder is told to either replenish equity or reduce capital before 31 December 2026 in line with commercial law requirements to avoid dissolution.
• The auditors credit the group’s audience strength and digital progress, citing a 29.8% TV share and france.tv surpassing TF1’s platform in 2024, while urging faster regional synergies with France Bleu and closer work with Radio France.
• Tensions over potential 2026 funding cuts and political attacks, including RN calls for privatization and for Ernotte’s exit following the Legrand‑Cohen controversy, heighten the stakes for the reform timetable.