CLT-UFA acquires full control of radio businesses in France
Luxembourg, September 24, 1999
Already the sole shareholder of RTL and RTL2, CLT-UFA has raised its interest in Fun Radio to 100% with the purchase from M6 of the shares it did not already hold.
At the same time, Fun Radio has sold its 50% interest in Fun TV to M6, now the sole owner of the channel.
Axel Duroux, Chairman and CEO of Fun Radio and RTL2, comments: "With Fun TV confirming its potential and Fun Radio back on the road to success, it is a logical step to focus the radio business on core operations and allow Fun TV to continue its development in association with M6."
For Jean-Michel Kerdraon, Executive Vice President Radio at CLT-UFA: "This strategic move consolidates our radio business in France and marks the success of the repositioning and integration of Fun Radio initiated in early 1998."
CLT-UFA is Europe’s largest radio and television group. With holdings in some forty radio stations and television channels -most of them leaders in their respective markets – RTL in France, RTL Television in Germany, RTL TVI in Belgium HMG in the Netherlands and UFA Sports in Europe. The group is also active in production and rights distribution.