CLT-UFA acquires from VNU an additional interest in Dutch commercial TV
CLT-UFA Luxembourg, July 1, 1998 ,
CLT-UFA has reached an agreement with VNU on the purchase of their 38 % shareholding in RTL 4 Holding SA, thereby raising CLT-UFA's economic stake in HMG from 40 % to 65 %.
Prior to this acquisition, CLT-UFA held 61 % of RTL 4 Holding SA which controls 65 % of RTL/Veronica de Holland Media Groep SA (HMG) and which holds a 20 % interest in Veronica Blad CV. HMG operates a family of three branded TV channels: RTL4, RTL5 Nieuws&Weer and Veronica. HMG also operates the radio Veronica FM as well as Holland Media House, the third production company in the Netherlands.
The remaining 35 % shareholder in HMG is Vereniging Veronica which merged its TV activities with those of CLT-UFA in 1996.
According to Rémy Sautter, President and CEO of CLT-UFA and Chairman of the Managing Board of HMG, "the purchase of VNU's stake allows HMG to fully benefit from CLT-UFA's broadcasting competences, especially in the area of free TV where the CLT-UFA Group is the largest operator in Europe. I'm looking forward to continuing our valuable partnership with the Veronica group, strengthened as it is by this transaction, confirming our confidence in the future of HMG."