The Board of Directors of CLT met in Paris on Thursday, December 5
CLT-UFA Luxembourg, December 6, 1996
The Board of Directors of CLT met in Paris on Thursday, December 5. After a review of the satisfactory conditions prevailing in each Group activity, the Board unanimously approved legal instruments for the merger of the audiovisual operations of the Bertelsmann group and CLT. These are to be submitted to the general meeting of shareholders for definitive adoption on January 13, 1997. The operation will take the form of the contribution by Bertelsmann of its subsidiary UFA to CLT, and will give Audiofina and Bertelsmann joint and equal control of CLT-UFA.
On the same occasion, GBL, Havas and Bertelsmann announced a shareholders' agreement reflecting the three parties' commitment to working together within the new entity while respecting the interests of each.
Clarification to December 5, 1996 Havas news release
Following the announcement of the Havas - GBL - Bertelsmann shareholders' agreement concerning CLT-UFA, CLT notes that Ediradio represents only radio station RTL. Music stations RTL 2 and Fun Radio are not part of Ediradio, and their chairmen will continue to be appointed by the CLT Chief Executive Officer in charge of French-language activities.