RTL sells ALPHA TV stakes and Exits Greek Market

WOW! We manage to kick every foreigner investor who tries to set a foot in Greece. Preferably we kick Germans out of the country. Especially if this foot is stuck in an ugly shoe. After supermarket chain ALDI, now it’s the time for boradcast giant RTL to give up its Greek investement. The German media group sells back its 70% stake in Alpha Television to businessman Dimitris Contominas from whom he bought the Greek private broadcast three years ago. RTL Group CEO Gerhard Zeiler justified the exit form the Greek market with the ‘heavy economic and financial crisis”.

The Germanized version of Greek broadcast never managed to set a successful foot in Greece. In the highly politiziced country the Germans from RTL formally ‘killed’ the prime time news programme into an indifferent lifestyle news.  At the same time it flooded Alpha screens with low quality and content shows like “single Farmer seeks…” or “My bad mother in law”. In the last month ALPHA TV broadcasts the series “Family Stories” with a cast of non-professional actors from morning until the evening and endless repetitions.
Bye, Bye German Sweathearts…

German giant sells 70% stake in Alpha Media Group to Dimitris Contominas.

COLOGNE, Germany – European broadcast giant RTL Group is exiting the Greek TV market, selling its 70 percent stake in Greek broadcaster Alpha Media Group to Greek entrepreneur Dimitris Contominas, giving him full control of the network.

“Given the heavy and on-going economic and  financial crisis in Greece, we have eventually decided to exit the Greek market,” said RTL Group CEO Gerhard Zeiler.

Despite the general gloom surrounding the Greek economy, Alpha Media has increased its audience share and market position over the past three years.
Contominas expressed “regret” at RTL’s decision to sell its Alpha Media shares but pledged to continue to “steer the company through turbulent times”