Bertelsmann to Reduce RTL Stake

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GÜTERSLOH: Bertelsmann announced today that it intends to reduce its shareholding in the RTL Group from the current 92.3 percent to no less than 75 percent of the company.

Shares will be offered to private and institutional investors through a public offering in Germany and Luxembourg before the summer. According to reports, the sale would bring in anywhere from 1.5 billion euros to 3 billion euros for Bertelsmann, which is expected to use the funds to step up its digital-media efforts and expand further into emerging markets.

The European conglomerate—which also owns Random House, among other assets—reported 2012 revenues of 16.1 billion euros, a 4.5-percent gain. The RTL Group is the biggest contributor to Bertelsmann revenues.