CLT/Ufa pacts with Veronica to acquire control of HMG

Company gets 100% control of the Dutch network

AMSTERDAM — CLT/Ufa has reached an agreement to take over the remaining 35% of the Holland Media Group from the Veronica Group, giving it 100% control of the three-channel Dutch commercial network.

The agreement will give CLT/Ufa exclusive rights to the Veronica brand name until Sept. 1, 2001 and ends a years-long power struggle between shareholders and management of the two groups.

Veronica is one of the most powerful brand names in Dutch television. Once the most popular and most commercial of the public broadcasters in Holland, the channel bailed out of the state system to become a commercial broadcaster under the HMG umbrella five years ago.

As part of the agreement, the Veronica Group will also sign a non-compete clause until September 2001. It is believed the group, which got its start in the early ’70s as a feisty pirate radio channel, will launch a new TV channel as soon as that clause expires.

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