RTL sells stake in BroadbandTV for 102 million euros

RTL SA

28/10/2020 13:39

BERLIN, Oct 28 (Reuters) - European broadcaster RTL Group
 RRTL.DE  said on Wednesday it had completed the sale of its
majority stake in Vancouver-based BroadbandTV to BBTV Holdings
for 102 million euros ($121 million) as it focuses on its core
business.
    RTL bought 51% of BroadbandTV in 2013 for 27 million euros.
It later invested a further 19.8 million euros into the business
in the form of convertible notes, RTL said in a statement.
 ($1 = 0.8461 euros)

 (Reporting by Douglas Busvine; editing by Thomas Seythal)
 ((douglas.busvine@tr.com; +49 30 220 133 562;))