RTL to sell Dutch subsidiary to DPG Media for 1.1 bln euros in cash

Bertelsmann SE & Co KGaA

15/12/2023 10:01

BERLIN, Dec 15 (Reuters) - European broadcaster RTL
Group said on Friday that it would sell its Dutch subsidiary RTL
Nederland to Belgium-based DPG Media in a deal worth 1.1 billion
euros ($1.21 billion) that will also see the two companies enter
into a strategic partnership. 
    "The sale to DPG Media is the best strategic option for RTL
Nederland and all its stakeholders" after RTL's planned
acquisition of rival Talpa was blocked by Dutch competition
authorities in January, said RTL Group CEO Thomas Rabe.
    Subject to regulatory approvals, the all-cash transaction is
expected to close around mid-2024 and will result in a profit of
approximately 800 million euros, according to the RTL Group. 
    As part of the sale, the companies will form a strategic
partnership in the areas of advertising and streaming
technology, international advertising sales and content.
    "Together with our leading TV brands VTM and RTL Belgium, we
will be able to build a group that has the necessary scale to
invest in the digital transformation of television," said DPG
Media Group executive chairman Christian Van Thillo.  
    DPG Media controls several national and regional Dutch
newspapers and also owns the top-selling Donald Duck comic, as
well as a number of popular women's magazines.
    
($1 = 0.9098 euros)

 (Reporting by Klaus Lauer and Toby Sterling, Writing by Miranda
Murray, Editing by Rachel More)
 ((Miranda.Murray@thomsonreuters.com;))