RTL confirms talks on selling stake in France's Groupe M6

RTL SA

12/03/2021 07:00

BERLIN, March 12 (Reuters) - European broadcaster RTL
 RRTL.DE  confirmed on Friday it was exploring the sale of its
controlling stake in French broadcaster Groupe M6 as it reported
a 26% slide in annual core profit due to the coronavirus
pandemic.
    "We are currently reviewing such options for our controlling
stake in the French broadcaster Groupe M6, with a view to
creating value for our shareholders," CEO Thomas Rabe said in a
statement.
    Rabe, who also heads RTL's controlling shareholder
Bertelsmann  BTGGg.F , approached potential bidders in January
to explore a sale of M6 as he undertakes a broader restructuring
of the German publishing group.  urn:newsml:reuters.com:*:nL1N2K40TK
    While stating a strong case for consolidation in the
European broadcasting industry, Rabe also said there could be no
certainty that this would lead to any type of agreement or
transaction.
 ($1 = 0.8369 euros)

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