June 2 (SeeNews) - Central European Media Enterprises (CME) said it has closed the transaction to acquire RTL Croatia from international TV broadcaster RTL Group that after receiving Croatian regulatory approval.
“We are very excited to welcome RTL Croatia to the CME family and expand our footprint in the Adriatic region, which offers exceptional growth potential. Our loyal viewers can expect increased local content productions, improved digital offerings, and a continued dedication to pluralistic and high-quality journalism,” Didier Stoessel, CME CEO for Croatia, the Czech Republic, Romania, Slovakia, and Slovenia, said in a press release on Wednesday.
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RTL Group announced in February it has reached an agreement with CME to sell RTL Croatia for 50 million euro ($53 million).
RTL Group was the majority shareholder of RTL Croatia since its foundation in 2004 and has fully owned the company since July 2015.
Bermuda-registered CME is part of Dutch-registered PPF, an international investment group founded in the Czech Republic in 1991.
CME operates television stations in Bulgaria, Croatia, the Czech Republic, Romania, Slovakia and Slovenia, and is one of the leading media and entertainment companies in Central and Eastern Europe. CME broadcasts 42 television channels, both free-to-air and paid, and reaches a total of 49 million viewers.
($ = 0.936 euro)