RTL Group exits Greek broadcasting

RTL Group, the European entertainment network, has confirmed it will sell its 70 per cent majority shareholding in Alpha Media Group to the Greek entrepreneur Dimitris Contominas. The transaction is subject to approval by the Greek Competition Commission and is expected to close in the first quarter of 2012.

As Contominas currently owns a minority stake of 30 per cent in Alpha Media Group, he will become the sole owner of the company.