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RTL sells stake in BroadbandTV for 102 million euros

Credit: REUTERS/WOLFGANG RATTAY

European broadcaster RTL Group said on Wednesday it had completed the sale of its majority stake in Vancouver-based BroadbandTV to BBTV Holdings for 102 million euros ($121 million) as it focuses on its core business.

BERLIN, Oct 28 (Reuters) - European broadcaster RTL Group RRTL.DE said on Wednesday it had completed the sale of its majority stake in Vancouver-based BroadbandTV to BBTV Holdings for 102 million euros ($121 million) as it focuses on its core business.

RTL bought 51% of BroadbandTV in 2013 for 27 million euros. It later invested a further 19.8 million euros into the business in the form of convertible notes, RTL said in a statement.

($1 = 0.8461 euros)

(Reporting by Douglas Busvine; editing by Thomas Seythal)

((douglas.busvine@tr.com; +49 30 220 133 562;))

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