RTL Group completes sale of shareholding in BroadbandTV
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Editor
| 28 October 2020
Confirming a move that media group says is consistent with RTL Group’s three-priority strategy – core, growth, alliances and partnerships – RTL Group has fulfilled terms of its divestment of its entire shareholding in Vancouver-based BroadbandTV to BBTV Holdings.
BroadbandTV RTL 28 Oct 2020
In 2013, RTL Group acquired a 51% shareholding in BroadbandTV for €27 million. Following this initial investment, RTL Group injected further capital into BroadbandTV amounting to €19.8 million in the form of convertible notes. These notes, including accrued interest, will be replaced by a new promissory note of the newly listed entity BBTV Holdings Inc. with a December 2021 maturity date. The sale is valued at €102 million.

BBTV claims to be the second largest video property worldwide in terms of unique viewers following only Google, reaching tens of billions of monthly impressions. The purchase of BroadbandTV comes hot on the heels of filing the final prospectus and announcing the pricing of an initial public offering.

Going forward, RTL says that it will be reviewing its portfolio and growing its European digital assets in the areas of streaming, advertising technology and digital video.