NRJ plans acquisitions in Germany -
Written by Jörn Krieger
Sunday, 10 January 2010
French radio giant NRJ Group plans to expand its activities in Germany through acquisitions and partnerships.
"We need a critical size in mass markets to become profitable", Christophe Montague, Chief Executive Officer of NRJ International, told German industry publication "kress report".
"In Germany we still have to grow to reach this critical mass", said Montague. He added that there were sufficient funds for investments as "our balance sheet shows a cash stock of a 3-digit €m figure". Shareholders in radio broadcasters willing to sell their stakes will also be offered the option to exchange their shares for shares in the NRJ holding company, "possibly with the perspective of a stock market floatation in 4 to 5 years", said Montague.
In Germany, NRJ Group operates several FM radio stations in cities under the Energy brand as well as a web-TV offer.