TITLE

EC greenlights RTL's takeover of Channel 5

AUTHOR(S)
Cendrowicz, Leo
PUB. DATE
August 2005
SOURCE
Hollywood Reporter -- International Edition;8/30/2005, Vol. 390 Issue 36, p54
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
The article reports that the European Commission (EC) has cleared the takeover of Britain's Five channel by Europe's biggest broadcaster, the RTL Group. The EC--the European Union's antitrust authority--cleared the merger under its simplified review procedure, which clears mergers or acquisitions after one month if no objections are raised by third parties. Channel 5 Television Group Ltd. is owned by BAG and United Business Media Group, while broadcaster RTL Group--based in Luxembourg--is part of Bertelsmann AG. RTL already had a 65% holding in Five and was expected to acquire the remaining 35% from United Business Media.
ACCESSION #
18321086

 

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