Media conglom Bertelsmann is negotiating to buy newspaper group WAZ’s 7.5% stake in the RTL Group for some E550 million ($656 million), bringing its holding to 90.4%.
The remaining 9.6% is owned by small shareholders.
WAZ has been a stakeholder in RTL Group, Europe’s largest TV company, for more than 10 years.
Deal is likely to be concluded this month.
WAZ, located in North Rhine-Westphalia, publishes mainly daily newspapers and has annual sales of around $2.5 million.