CLT-UFA POISED FOR AGREEMENT WITH VERONICA GROUP
Luxembourg, March 13th, 2000
CLT-U.FA confirms that it has signed a letter of intent with the Veronica Group to be transformed into a long form agreement. Under the terms of the letter of intent, CLT-UFA, which already holds 65% of HMG (Holland Media Group), is to buy the remaining 35% from Veronica Group. CLT-UFA will transfer its interest in Dutch Veronica Blad magazine to Veronica Group and maintaining until September 1, 2001 exclusive rights to the Veronica brandname. The Veronica Group will refrain from competing in any way whatsoever with any CLT-UFA activities until September 2001.
The move marks a further development in CLT-UFA's policy of consolidating and extending its interests in free TV in Europe, following recent increases in its participations in Channel 5 in the UK, M6 in France, and Vox and RTL TV in Germany,
CLT-UFA is Europe’s largest radio and television group. With holdings in some 40 radio stations and television channels -most of them leaders in their respective markets – RTL and M6 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.