BERLIN — Pan-European entertainment entity RTL Group has sold its London-based TV services company London Playout Center to Liberty Media subsid Ascent Media Group.
LPC provides a broad range of services for leading commercial TV channels, including Discovery, Five and Flextech.
RTL Group topper Gerhard Zeiler said the sale was initiated after the company decided to sell or restructure those businesses that primarily provide technical services to third parties.
The group is holding on to Broadcasting Center Europe in Luxembourg, which Zeiler said was “an essential part of our TV and radio operations, and is performing well. We intend to further invest and grow this business,” he added.
Meanwhile, European Union competition regulators have cleared Bertelsmann-backed RTL’s acquisition of French national terrestrial channel M6.
RTL became the biggest shareholder in M6 after French media and utilities group Suez sold 29.2% of its 34.2% stake, a move already cleared by French authorities.
(Andy Stern in Brussels contributed to this report.)