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RTL Group, the leading European entertainment network, announced that it has signed an agreement for the sale of Five Group (“Five”) to the Northern & Shell company owned by British publisher Richard Desmond. The deal is closed with immediate effect. The total cash consideration payable to RTL Group for its 100 per cent shareholding in Five will be EUR 125 million (GBP 103.5 million). Gerhard Zeiler, Chief Executive Officer of RTL Group, said: “With a significant recovery of the UK TV advertising market and Five performing well in the first half of 2010, we saw a window of opportunity to realise a transaction based on a fair evaluation of Five. The disposal is in line with RTL Group’s strategy of being number one or two in each of our markets. I would like to thank the whole team at Five...
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