CLT-UFA has signed on January 18, 2000 the agreements with News Corp. regarding the transfer of the 49,9% stake held by News Corp. in the German Free-TV channel VOX.
CLT-UFA acquires the shares for the Free-TV channel RTL, in which CLT-UFA holds an 89% interest. In the future, VOX will be managed jointly by CLT-UFA and RTL. Rolf Schmidt-Holtz, Chief Executive Officer of CLT-UFA, is taking the Chair of the Supervisory Board of VOX.
By this move, CLT-UFA has laid the foundation for a new structure of its channels, creating maximum incentives for cooperation between the stations. Such intensive collaboration, particularly in the programming field, will further sharpen the profiles of the channels while at the same time boosting their attractiveness for viewers. In return, the profitability of the channels will be increased.
The agreement is subject to the approval of the relevant cartel authorities.