By Pietro Lombardi
RTL Group SA has reached an agreement to sell RTL Belgium to Belgian media companies DPG Media and Groupe Rossel for 250 million euros ($298.4 million).
The Belgian business has three free TV channels, radio stations and a streaming service, the Luxembourg-based media company said Monday.
The deal should be closed in the last quarter of the year, subject to regulatory approvals, the company said.
"RTL Group's shareholders will benefit from the cash proceeds in line with the stated dividend policy," it said.
Write to Pietro Lombardi at email@example.com; @pietrolombard10
(END) Dow Jones Newswires