RTL Group sells Polish TV station RTL 7 to media group ITI
Luxembourg, 21 December 2001. - CLT-UFA, a subsidiary of Europe’s leading broadcaster RTL Group, today announces the sale of its Polish TV station RTL 7 to the media and entertainment group ITI, a majority shareholder of the Polish commercial TV station TVN. Under the terms of the deal, ITI acquires RTL 7, its formats, its current film library and its satellite transponder obligations with Eutelsat. ITI plans to rebrand RTL 7 as a second TVN channel by March and has applied to the Polish Broadcasting and Media Council for a satellite-broadcasting license. The exact launch date and program will be announced shortly.
RTL Group’s Chief Executive Officer Didier Bellens commented: “The disposal of RTL 7 is part of an ongoing portfolio review within RTL Group. We continue to focus on our strong core businesses while reviewing loss-making activities. By securing the deal with ITI we meet our satellite transponder obligations with Eutelsat.”
After examining the prospects for RTL 7, RTL Group concluded that due to the limited technical reach of the channel it is unlikely to move into profit in the near term. RTL 7 reaches 49% of Polish households. It had an average audience share of 2.8% in 2001 (16 to 49, January – November) and an advertising market share of 2.3% in 2000. It made losses of Euro 16.6 million in 2000. RTL 7 was launched in 1996 and is broadcast by satellite under a Luxembourg license, held by RTL Group’s subsidiary CLT-UFA. ITI is listed on the Luxembourg stock exchange [ITIH.LU].
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