RTL Group, Europe's biggest commercial broadcaster, agreed to buy half of a company that operates Russian television channels to expand in the country and neighbouring states.
RTL plans to buy 50 percent of Content Union from Luxembourg-based Continental Finance Group, RTL said on Thursday, without revealing the price it paid.
Content Union operates four non-terrestrial television channels in Russia, Ukraine, Belarus, Kazakhstan, Moldova and Georgia, RTL said.
Through the venture RTL plans "to build up a joint venture for the production, operation and distribution of thematic, non-terrestrial TV channels in Russia and in the Commonwealth of Independent States." ( Reuters )