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.

ADVERTISEMENT

Financial Loss Puts 4iG in Red Figures

Financial Loss Puts 4iG in Red

Hungary Makes Proposals to Ease Administrative Burden for EU... EU

Hungary Makes Proposals to Ease Administrative Burden for EU...

Money Motion 2024: The Future of FinTech Unfolds in Zagreb Fintech

Money Motion 2024: The Future of FinTech Unfolds in Zagreb

Investors of the Year in Limelight at Hipa’s Award Ceremony Awards

Investors of the Year in Limelight at Hipa’s Award Ceremony

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.