Television and radio giant RTL Group is on the prowl for news and media acquisitions to add to its pan-European portfolio, according to chief executive Didier Bellens.

In a statement yesterday, Bellens commented that the acquisitions would probably be in Europe instead of the US. The company wants to develop ‘families’ of cross-promoted websites and TV and radio stations based in Germany, the UK, Spain, France, the Netherlands and Belgium.

However, rather than building a costly multimedia infrastructure itself, RTL intends to focus on supplying content across distribution channels, including interactive TV and broadband. A focus on content, Bellens pointed out, had seen become a leading games site in Germany, with almost 4 million users, for an investment of only 60m euros ($55.78m).

Bellens added that RTL would stick to its strategy of buying 100% stakes in European subsidiaries, rather than just building up a group of assets.

News source: Financial Times