RTL Group sells ad tech subsidiary SpotX
The RTL Group broadcasting chain is divesting itself of the US advertising technology company SpotX. As the Bertelsmann subsidiary announced, the US company Magnite will pay 1.17 billion US dollars in cash and shares. The purchase price consists of a cash component of 560 million US dollars and 14.0 million Magnite shares. RTL had bought a majority stake in SpotX of 65 per cent for €107 million in 2014 and acquired the outstanding stake of €123 million in 2017. "The sale of SpotX is in line with our strategy to focus on growing our European digital businesses in streaming, advertising technology, digital video and audio, as well as our global content business Fremantle," said RTL CEO Thomas Rabe.