News Broadcasting
Europe’s RTL takes complete stake in n-TV
MUMBAI: Europe’s largest broadcaster, RTL Group has taken full control of the German news network n-tv, acquiring CNN’s 50 percent stake for an undisclosed sum.
The Bonn-based German Cartel Office approved the move for RTL to acquire the 50 percent stake owned by Atlanta, Georgia-based CNN, the European broadcaster said in a statement.
RTL had applied to the German Cartel Office last November to take 100 percent control of the channel. The regulatory authority has approved the acquisition without any stipulations, according to media reports.
The German Cartel Office said it has approved Bertelsmann AG’s TV station RTL Television GmbH’s takeover of the German news station n-tv, despite expressing reservations.
The cartel office noted that RTL Group – with its stations RTL, VOX, Super RTL and n-tv – and its rival ProSiebenSat.1 GruppeMedia AG, enjoy a duopoly control of the German television market.
It said that rejecting the takeover would not weaken this duopoly nor reduce the advertising customers that RTL enjoys from the n-tv station.
RTL Germany head. Anke Schaeferkordt said, “We welcome the decision of the cartel office and are excited that n-tv has become the most important member of the RTL family.”
