- Pearson, the UK media group which owns the Financial Times newspaper, is set to merge its television operations with CLT-Ufa, the pan-European broadcaster which is part owned by German media giant Bertelsmann.
The deal combines Pearson's programme content, including shows such as Baywatch and The Price is Right, with the largest commercial broadcaster in Europe to form a group that will have annual revenues of £2.4 billion.
The deal gives the new group majority ownership of the UK's Channel 5. The Pearson and CLT-Ufa stakes combined account for a 64.5 per cent share in the channel.
According to Marjorie Scardino, chief executive of Pearson: "This deal puts Pearson Television at the heart of one of Europe's most extensive - and most popular - broadcasting networks."
CLT-Ufa has its headquarters in Luxembourg and alongside, Bertelsmann it is owned by Belgian holding company, Audiofina. CLT-Ufa's interests include German TV channel, RTL, and RTL-branded channels in Belgium, Hungary and Poland.