NRJ Group Said to Hire Adviser for Broadcasting Unit SaleKiel Porter
NRJ Group, a Paris-based media operator, is considering a sale of its broadcasting tower network subsidiary, according to two people with knowledge of the matter.
NRJ, which is traded on the Euronext Paris stock exchange, is working with U.K.-based corporate-finance firm DC Advisory Partners Ltd. to examine strategic options for its TowerCast subsidiary, which may include a sale, said the people, who asked not to be identified because the talks are private.
TowerCast, which has 500 sites in France covering 85 percent of the country, has expanded to include digital television along with radio and mobile phone services, according to NRJ’s website.
The unit had revenue of 55.5 million euros ($76 million) in 2013, up 13.5 percent from a year earlier, according to NRJ’s annual report. The unit is attracting interest from private-equity firms, one person said.
Officials at DC Advisory declined to comment, while representatives for NRJ and TowerCast didn’t respond to telephone and e-mail requests seeking comment.