RTL Group to Explore “Strategic Alternatives” for BroadbandTV

ADVERTISEMENT

LUXEMBOURG: RTL Group has decided not to exercise its option to acquire the remaining 49-percent shareholding in BroadbandTV, but rather will explore “all strategic alternatives” for the internet video company.

Back in June 2013, RTL Group purchased a 51-percent stake in the YouTube multichannel network, investing some $36 million. Billed as the world’s largest multiplatform network (MPN), BroadbandTV recently announced launches in Singapore, Malaysia, Taiwan, South Korea, Vietnam, Saudi Arabia, the U.A.E. and Egypt. It currently operates in seven languages and 23 countries and continues to be the leading MPN in all English-speaking, Hispanic and Portuguese markets. BroadbandTV is also among the top players in France, Germany, Russia and Japan.

While RTL Group is not planning to take full ownership of the company, it will be jointly working with the minority shareholders of BroadbandTV on alternative strategies, which could include a sale, adding more investors or an IPO. The investment bank LionTree is being enlisted to lead the process.