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RTL Group on Monday signed a $300 million (€250 million) deal to sell its Belgian television network, RTL Belgium, to local media companies DPG Media and Groupe Rossel.
The agreement sees DPG and Groupe Rossel take full control of RTL Belgium’s three French-language free TV channels: family and general interest network RTL-TVI; children, sports and classic movies and series channel Club RTL; and the youth-targeted Plug RTL, which airs mainly drama series and reality TV shows, as well as the company’s Belgium radio channels, its local streaming service RTL Play and news website RTLInfo.be.
The deal, which still has to be approved by local regulatory authorities, is expected to close in Q4 of this year.
RTL has been the majority shareholder in commercial TV network RTL Belgium for 33 years and took full control of the channel in December 2020.
The sale is part of a broader European-wide consolidation at RTL Group. The company, which controls production giant Fremantle, recently signed a deal to merge its French network M6 with commercial TV rival TF1. In the Netherlands, RTL last week announced a deal to combine RTL Nederland with Talpa Networks, the local TV group controlled by The Voice creator John de Mol.
RTL’s strategy is to create a series of “local-language champions” — broadcasting groups with sufficient size in their home territories to take on the global streaming companies.
J.P. Morgan acted as financial advisor for the transaction for RTL Group. Linklaters acted as legal counsel and KPMG as transaction advisor.
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