PPF Group (PPF) announced on Monday that its subsidiary, CME Media Enterprises B.V., (CME) has signed an agreement with RTL Group Central & Eastern Europe GmbH to acquire 100 percent of RTL Hrvatska (RTL Croatia), a commercial broadcaster in Croatia.

The assets are valued at €50million.

As part of the transaction, CME has secured the long-term rights to retain the use of the RTL brand in Croatia.

CME currently owns and operates VOYO, the leading Central European SVOD platform as well as five other leading television stations in Bulgaria, the Czech Republic, Romania, Slovakia, and Slovenia. This transaction is subject to customary closing conditions, including regulatory approval from the Croatian Competition Authority and the Croatian Agency for Electronic Media.

Closing is expected in mid 2022.

“As a PPF company, we are always open to interesting ideas for growth and investment and see that the Adriatic is a growing region with exceptional potential. We have a very successful operation with ProPlus in the region and I believe that these two Adriatic countries can work well in parallel,” said Didier Stoessel, CME CEO for Czech Republic, Romania, Slovakia, and Slovenia. “As in our other countries, we will focus on digitalization and local content creation, while continuing to excel in pluralistic and high-quality journalism.”

PPF Group operates in 25 countries, investing in multiple sectors, including financial
services, telecommunications, media, biotechnology, real estate, and engineering. Employing 80,000 people globally, PPF Group’s reach spans from Europe to North America and across Asia.

CME operates television stations in the Czech Republic, Romania, Slovakia, Slovenia, and Bulgaria and is one of the leading media and entertainment companies in Central and Eastern Europe, broadcasting 33 television channels, both free-to-air and paid, and reaching a total of 45 million viewers.