BERLIN, March 12 (Reuters) - European broadcaster RTL confirmed on Friday it was exploring the sale of its controlling stake in French broadcaster Groupe M6 as it reported a 26% slide in annual core profit due to the coronavirus pandemic.
“We are currently reviewing such options for our controlling stake in the French broadcaster Groupe M6, with a view to creating value for our shareholders,” CEO Thomas Rabe said in a statement.
Rabe, who also heads RTL’s controlling shareholder Bertelsmann, approached potential bidders in January to explore a sale of M6 as he undertakes a broader restructuring of the German publishing group.
While stating a strong case for consolidation in the European broadcasting industry, Rabe also said there could be no certainty that this would lead to any type of agreement or transaction. ($1 = 0.8369 euros) (Reporting by Douglas Busvine Editing by Riham Alkousaa)