European broadcaster, RTL Group, is to acquire the TV and radio assets of the German publishing group Georg von Holtzbrinck in deal worth E170 million.
Under the terms of the agreement, RTL will take control of Holtzbrinck’s 47.3% stake in the leading German commercial news channel, n-tv as well as the group’s activities in 12 German radio stations.
The acquisition is subject to regulatory approval as well as to the agreement of co-shareholders to waive their pre-emption right, RTL said.
