The merger, originally announced in June but which has now been approved by the two companies’ boards, is subject to approval from the competition authorities and is expected to close in the first half of 2022. An advisory process with respective works councils will start in due course.
Talpa Network will contribute its TV, radio, print, digital, e-commerce and other assets to RTL Nederland and will receive a 30% stake in the enlarged RTL Nederland in return.
RTL Group will hold the remaining 70% in the combined group and will continue to fully consolidate RTL Nederland in its accounts.
As previously announced, Sven Sauvé will continue in his current role as CEO of RTL Nederland, leading the combined group after closing the transaction. Pim Schmitz, CEO of Talpa Network, will represent Talpa Network by joining the new Supervisory Board of RTL Nederland which will be chaired by Elmar Heggen, COO and Deputy CEO of RTL Group.
Talpa Network’s content units –Talpa Concepts and Talpa Entertainment Producties – which are not part of the deal, and RTL Nederland will enter into a content agreement for newly developed formats for linear TV channels and for the streaming service Videoland.
The combined group turned in 2020 revenues of €909 million and EBITA of €84 million . The annual content spend of the combined group amounts to more than €400 million.
Thomas Rabe, CEO of RTL Group, said: “Following the proposed merger of Groupe TF1 and Groupe M6 in France, the combination of RTL Nederland and Talpa Network is the second major step to scale up our broadcasting businesses across our European footprint. The new cross- media group will have the size, resources and creativity to compete with global tech platforms in the Netherlands when it comes to investing in premium content, offering the most advanced addressable advertising opportunities, and expanding Videoland, the leading national streaming service for Dutch viewers.”
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