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PARIS (Thomson Financial) - NRJ Group is to refocus on its core, money-making media content activities and aims to sell a stake, possibly the majority, of its TowerCast broadcasting unit as well as reducing its presence in some foreign markets, chief executive Marc Pallain said.
In an interview with Les Echos, Pallain said selling of part of TowerCast, which broadcasts radio and digital terrestrial TV and programmes on behalf of other companies via a network of transmitters, will help fund the unit's expansion as well as encouraging NRJ's rivals to overcome their reluctance to transmit programmes via Towercast.
As part of of the 'Plan NRJ 2010' strategy programme, the group also aims to "reduce" its presence in Finland, Austria and "above all Germany," he said.
The group will sell all or part of these activities, but maintain its profitable businesses in Switzerland and Belgium.
Pallain said Plan NRJ 2010 will not lead to a redundancy plan.
He said the plan, which comes amid an "uncertain" outlook for the ad market in 2008, will generate 20 mln eur in annual savings in 2010, of which the majority will come in 2009.
tfn.paris@thomson.com mrg/mrg/hjp COPYRIGHT Copyright Thomson Financial News Limited 2007. All rights reserved.
In an interview with Les Echos, Pallain said selling of part of TowerCast, which broadcasts radio and digital terrestrial TV and programmes on behalf of other companies via a network of transmitters, will help fund the unit's expansion as well as encouraging NRJ's rivals to overcome their reluctance to transmit programmes via Towercast.
As part of of the 'Plan NRJ 2010' strategy programme, the group also aims to "reduce" its presence in Finland, Austria and "above all Germany," he said.
The group will sell all or part of these activities, but maintain its profitable businesses in Switzerland and Belgium.
Pallain said Plan NRJ 2010 will not lead to a redundancy plan.
He said the plan, which comes amid an "uncertain" outlook for the ad market in 2008, will generate 20 mln eur in annual savings in 2010, of which the majority will come in 2009.
tfn.paris@thomson.com mrg/mrg/hjp COPYRIGHT Copyright Thomson Financial News Limited 2007. All rights reserved.