Aug 30th 2005
By: monica
By: monica
Bertelsmann gains control over Channel 5
Yesterday, the European Commission granted clearance under the EU Merger Regulation to the acquisition of sole control of Channel 5 by the RTL Group S.A. (RTL) of Luxembourg, which belongs to Bertelsmann.
In July Bertelsmann reached 90.4% control over RTL, after buying WAZ Group’s share in the company, and it acquired 30% or Russian Ren-TV for 60m Euro. Yesterday’s clearance is another step in the line of acquisitions to strengthen and expand the company announced by Bertelsmann’s CEO Gunter Thielen last spring.
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