RTL acquires Bertelsmann's Gruner + Jahr, raises guidance

RTL SA

06/08/2021 07:00

BERLIN, Aug 6 (Reuters) - European broadcaster RTL  RRTL.DE 
said that its German unit would acquire publishing house Gruner
+ Jahr from its parent Bertelsmann  BTGGg.F  for 230 million
euros ($272 million), as it published strong results and raised
its guidance.
    The agreed deal will "create Germany's first cross-media
champion", RTL said in a statement on Friday, after CEO Thomas
Rabe launched a series of deals to merge or sell its TV
operations in France and the Benelux countries.
 ($1 = 0.8457 euros)

 (Reporting by Douglas Busvine; Editing by Maria Sheahan)
 ((douglas.busvine@tr.com; +49 30 220 133 562;))