Bertelsmann Unit To Sell UK Channel Five For $161M

Law360, New York (July 23, 2010, 6:22 PM EDT) -- Bertelsmann AG's RTL Group said Friday it had reached a €125 million ($161 million) deal to sell U.K. television channel Five to Northern & Shell Network, which is owned by British publisher Richard Desmond.

In a statement announcing the deal, RTL Group CEO Gerhard Zeiler said that the channel had been performing well in the first half of 2010 due to the recent recovery of the British television advertising market, creating an opportunity to make a deal.

“The disposal is in line with RTL Group's strategy...
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