German media group Bertelsmann AG's entertainment unit RTL Group
said Wednesday it will form a partnership with BroadbandTV, in an
effort to strengthen its online video presence.
MAIN FACTS:
-RTL's initial investment in BroadbandTV amounts to EUR27
million ($36 million) and is part of a planned series of
investments in the company.
-RTL and BroadbandTV will explore joint business opportunities
in areas such as development of original content and advertising
sales.
-BroadbandTV is an entertainment network on YouTube, which uses
proprietary technology to support online video creators.
-Following the transaction, RTL Group holds a 51% stake in
BroadbandTV.
-RTL Group will appoint three members to the board of
BroadbandTV.
-Frankfurt Bureau, Dow Jones Newswires; 49-69-29725-500
Subscribe to WSJ: http://online.wsj.com?mod=djnwires