Vancouver’s BroadbandTV has struck a deal with a European entertainment network called the RTL Group, The deal is worth $36 million and will RTL secure a 51% stake in the business. BroadbandTV has over 50 employees and operates 7,800 YouTube channels – independent and big media players- that generates over 800 million video views per month. According to the press release RTL are planning a “series of investments in the company” that will see them create new content, led by BroadbandTV founder and CEO Shahrzad Rafati.
Rafati noted that “BroadbandTV has been on a rapid growth trajectory since we began, and that pace will only accelerate with our partnership with RTL Group. We are thrilled to have the powerful resources of RTL Group behind us. In addition to the competitive advantage for BroadbandTV, our customers and partners will benefit greatly from RTL Group’s global reach, advertising sales and expertise in producing amazing content. Our skill sets are complementary and we share mutual goals.”
