Bertelsmann’s RTL to Pull Out of Russia Assets Next Month
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RTL Group SA plans to exit its only broadcasting asset in Russia after failing to gain operational control of National Media Group, which holds stakes in three out of the country’s seven most-viewed television channels.
Europe’s biggest broadcaster plans to exercise an option to sell 7.5 percent of NMG on Sept. 16, Luxembourg-based RTL said in a statement on Aug. 22. The fair value of the stake is 81 million euros ($108 million), said RTL, which is controlled by German publisher Bertelsmann SE.