RTL buys 30 % of Russian television network

Televisionpoint.com Team
European broadcasting and production company RTL Group said it agreed with the founders of REN TV to buy a 30 percent stake in the Russian television network.

No financial details of the transaction were disclosed, and the deal is subject to regulatory and corporate approval.

"I am delighted that we have been able to expand RTL Group into Russia, one of the fastest growing advertising markets in the world," said Gerhard Zeiler, chief executive of RTL. He added that the acquisition is in line with RTL's desire to expand its business in Eastern Europe.