Rtl Group has reached a deal to sell Rtl Nederland, the leading Dutch commercial TV group and owner of the local streaming service Videoland, to Dpg Media, a multimedia company active in Benelux and Denmark.

The sale of Rtl Nederland is subject to regulatory approvals and a consultation with labor unions. The all-cash pact, which values Rtl Nederland for $1.2 billion, is expected to close around mid-2024. The capital gain from the transaction will be largely tax exempt and will amount to approximately $877 million.

Under the deal, Rtl Group and Dpg Media will work together on advertising and streaming technology, international advertising sales and joint content development.

For three years after closing, Rtl Group’s broadcasters in Germany, France and Hungary will receive first-look rights for all new programs developed by Rtl Nederland. Dpg Media, which also spans leading TV brands Vtm and Rtl Belgium, will also continue to use the...