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RTL Group, the leading European entertainment network, today announced that it will sell its 70 per cent majority shareholding in Alpha Media Group to the Greek entrepreneur Dimitris Contominas. The transaction is subject to approval by the Greek Competition Commission and is expected to close in the first quarter of 2012. As Mr Contominas currently owns a minority stake of 30 per cent in Alpha Media Group, he will become again the sole owner of the company, while the current management will continue to be involved in the operating management of the channel.
Gerhard Zeiler, CEO of RTL Group, says: Given the heavy and on-going economic and financial crisis in Greece, we have eventually decided to exit the Greek market. While we cannot influence the overall...
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