RTL Group raises stake in Hungarian commercial TV station RTL Klub to 98%

Analysis

Luxembourg-based European media conglomerate RTL Group will raise its stake in Hungarian commercial TV station RTL Klub to 98% through the purchase of an additional 31% of the Hungarian station's shares, RTL Group and RTL Klub reported on their websites.

RTL Klub said that the RTL group would also purchase seven of its cable-television stations - Cool, Film+, Film+2, Sorozat+, Relflector, Prizma and Muzsika TV.

The seller of the 31% stake in Hungary's RTL Klub and the 100% of seven-strong cable-television portfolio is IKO Media Group, owned by Hungarian businessman Tamás Rákosi.

The remaining 2% stake in RTL Kulb is held by the bank Sal. Oppenheim, RTL said.

The partners in the transaction did not reveal the price of the transaction.

RTL Klub noted that Hungary's media and competition authorities still need to approve the deal.

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