The new group will be the leading pan-European integrated broadcast and content company with annual revenues of some 4 billion euros. It will seek a primary listing on the London Stock Exchange as from completion of the merger.
Bertelsmann and GBL, the two co-controlling shareholders in CLT-UFA, will reorganize their interests in CLT-UFA and Audiofina. As a result, Bertelsmann, along with WAZ, the German publishing company, will have an economic interest of around 37% in Audiofina, with GBL holding an economic interest of approximately 30%. Pearson will hold an economic interest of 22% and around 11% will be publicly held. Audiofina, which is listed in Brussels and Luxembourg, will be renamed, with the new name of the company announced at a later date.
CLT-UFA has interests in 22 television channels, which attract more than 120 million daily viewers, and 18 radio stations, which attract more than 25 million daily listeners, across Europe. The main broadcast brands are RTL, M6 and Channel 5. In a joint venture with PTV, CLT-UFA is a major force in television production in Germany. CLT-UFA also operates one of Europe's leading sports rights businesses, marketing the broadcast rights of some 40 national football teams and 250 soccer clubs across Europe. It has a rapidly growing online presence, with more than 70 branded internet sites across Europe that generate some 150 million page views per month.
PTV has some 160 television programs in production in 35 countries around the world, producing over 10,000 hours of programming every year. It has shareholdings in broadcasters in the UK, Hungary, Spain and Australia and in Uproar.com, one of the world's leading online entertainment sites. Audiofina currently controls 49.85% of CLT-UFA. In addition, it holds a 28% interest in Groupe Jean-Claude Darmon, the Paris-listed sports rights marketing group.
