CNN offloads stake in Germany’s n-tv

MUMBAI: CNN has sold off its 50 per cent stake in German television news channel n-tv. The stake has been bought by European TV broadcaster RTL.

n-TV was owned in equal shares by the RTL Group and Time Warner, operator of the CNN channel since 2002. “n-tv is an important member of our family of complementary broadcasters,” RTL said in a statement. “The planned step will give n-tv the necessary room for maneuver for the strategic challenges of the future.”

RTL operates 32 television channels and 31 radio stations in 11 countries across the Europe.