RTL Seizes Full Control Of Five

RTL has secured complete control of Five, after agreeing with United Business Media to acquire the outstanding 35.4% shareholding for £247.6 million.

The transaction is expected to be finalised by the autumn, although it remains subject to regulatory approval from competition watchdogs.

The announcement sees RTL command a 100% share holding, having built up its interest in the broadcaster from an initial holding of 29% in 1997, when the channel launched.

Five has seen steady growth in both its audience and advertising revenues since launch, with an operating profit reported for the first time last year. In its last full-year results the broadcaster reported revenues of £290 million and an operating profit of £19 million.

Commenting on the acquisition, Gerhard Zeiler, CEO of RTL Group, said: “I am delighted that we have been able to increase our shareholding to 100% in Five. This transaction demonstrates our commitment to our activities in the UK and is in line with our stated strategic objectives. Five is a key shareholding for us and we look forward to continuing to work with the management team to develop the business.”

Five’s chief executive, Jane Lighting, added: “This is great news for Five as it will help us to plan for our future with more certainty. We are grateful to UBM for their support during our first eight years, however at this new phase in our development into the multi channel world we are delighted to have received such a whole hearted vote of confidence from our shareholder RTL.”

Five: 020 7550 5555 www.five.tv