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Pan-European broadcaster RTL Group has decided not to exercise the call option for the remaining 49 per cent shareholding in Multi Channel Network BroadbandTV and will explore, jointly with the minority shareholders of BroadbandTV, all strategic alternatives for the company.
The parties plan to mandate telecoms and media-focused advisory firm Liontree to lead this process.
RTL formed a strategic partnership with the Vancouver-based company in June 2013 with an initial investment of €27 million for a 51 per cent stake as part of a planned series of investments in the company.
Founded in 2005, BroadbandTV first entered the online video market with a creative solution for helping large media organisations benefit from a new revenue stream: the company’s technology detects videos which had been uploaded by fans on YouTube, and offers the organisations that own the IP a tool for monetising the content. BroadbandTV expanded its portfolio to include tools for the management, optimisation, protection and monetisation of video content, and its target audiences to include media companies, content creators and advertisers.
At the time, Guillaume de Posch, Co-CEO of RTL Group, said that as a leading European entertainment network, RTL Group was committed to becoming a major player in all segments of the rapidly growing online video market, and was “ideally positioned” to do