Bertelsmann intends to sell a stake in broadcasting subsidiary RTL in an effort to raise up to €2bn in funding for expansion in the education and music sectors.
The company’s chief executive Thomas Rabe told the Financial Times that the media group is willing to reduce its stake in RTL from 92.3% to just over 75% in order to raise the figure.
He added, however, that Bertelsmann was keen to retain control of RTL because it was “deeply convinced of the long-term attractiveness of television”.
Rabe also announced a new strategy for the company which he hopes will push it into growth regions such as China and the education sector.
The FT says that Rabe is eying academic publisher Springer Science, suggesting a €4bn price tag, but also suggests that BMG could be another target for any new funds with Bertelsmann making no secret of wanting to rise its stake in the music rights management company.
Bertelsmann showed an intention to sell stakes in order to fund ‘major’ media, education and business acquisitions as far back as September last year.