PPF And CME Announce Signing Of Agreement To Acquire RTL Croatia
By Community | February 14, 2022
PPF Group (PPF) announces that its subsidiary CME Media Enterprises B.V. (CME) has signed an agreement with RTL Group Central & Eastern Europe GmbH to acquire 100% of RTL Hrvatska d.o.o., (RTL Croatia), a commercial broadcaster in Croatia. The assets are valued at €50million. As part of the transaction, CME has secured the long-term rights to retain the use of the RTL brand in Croatia.
CME currently owns and operates VOYO, the leading Central European SVOD platform as well as five other leading television stations in Bulgaria, the Czech Republic, Romania, Slovakia, and Slovenia. This transaction is subject to customary closing conditions, including regulatory approval from the Croatian Competition Authority and the Croatian Agency for Electronic Media. Closing is expected in mid-2022.
“As a PPF company, we are always open to interesting ideas for growth and investment and see that the Adriatic is a growing region with exceptional potential. We have a very successful operation with ProPlus in the region and I believe that these two Adriatic countries can work well in parallel. As in our other countries, we will focus on digitalization and local content creation, while continuing to excel in pluralistic and high-quality journalism,” said Didier Stoessel, CME CEO for Czech Republic, Romania, Slovakia, and Slovenia.