August 28, 2019 / 6:01 AM / a month ago

Broadcaster RTL reviews partnerships for ad-tech business, names new CFO

FRANKFURT, Aug 28 (Reuters) - German broadcaster RTL is reviewing strategic partnerships for ad-tech business SpotX Global, the company said on Wednesday as it reported a drop in core earnings in the first half of the year and named a new Chief Financial Officer.

Bjoern Bauer is joining RTL as Chief Financial Officer from parent Bertelsmann, while Elmar Heggen is taking over the newly created role of Chief Operating Officer, RTL said.

In the first six months, group sales increased by 4.2% to 3.2 billion euros, while earnings before interest, tax and amortization slipped 2% to 538 million euros.

Benefitting from gains from the disposals, net profit was up 21% at 443 million euros.

SpotX helps RTL make money from digital video offerings, including video-on-demand and live TV streamed to internet-connected TV devices and RTL said it aims to build a competitive European advertising technology platform.

“With our alliances and partnerships, we are actively shaping the future of the European Total Video industry – from content creation to ad sales and technology,” Chief Executive Thomas Rabe said.

Reporting by Arno Schuetze Editing by Thomas Seythal

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