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RTL Group today announced that it has signed a definitive agreement for the sale of SpotX to Magnite (Nasdaq: MGNI), the world’s largest independent sell-side advertising platform, based in Los Angeles. The transaction is subject to receipt of regulatory approvals and is expected to close in Q2/2021.
The purchase price consists of US-$560 million (€468 million1) in cash and 14.0 million shares of Magnite stock. The agreement implies an enterprise value (100 per cent) for SpotX of US-$1.17 billion (€977 million(1)), based on the closing price of Magnite stock as of 4 February 2021. RTL Group’s shareholders will benefit from the cash proceeds in line with the stated dividend policy. RTL Group acquired a 65 per cent majority shareholding in SpotX for €107 million in 2014,...
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