RTL Group is to sell its 70% stake in Greece’s Alpha Media Group to the local entrepreneur Dimitris Contominas for an undisclosed fee.
As a result of the deal, which is subject to approval by the Greek Competition Authority and expected to close in Q1 this year, Mr Contominas will again become the sole owned of the company.
RTL Group acquired a majority stake in Alpha Media Group in December 2008, since when the Greek net TV advertising market has declined by more than 50%.
However, the national channel Alpha TV managed to increase its audience share in the main target group (aged 15-44) from 12.5% to 14.6% between 2008 and 2011.
Aside from Alpha TV, Alpha Media Group own an in-house production company named Plus Productions.
Greece’s national TV market, which is dominated by Star TV, Mega, Antenna TV and Alpha TV, is currently believed to be worth around €350 million.
Local reports say that Alpha TV’s ad revenue fell from €138 million in 2008 to just over €89 million last year.
2012-01-06, 12:34 by