RTL Group, a Luxembourgish-based international media company, agreed to acquire Gruner + Jahr’s German publishing assets from Bertelsmann, a German private multinational conglomerate corporation based in Gütersloh, North Rhine-Westphalia, for €230m. "Following the proposed consolidation moves in France and the Netherlands, the combination of RTL Deutschland and Gruner + Jahr is our third milestone in 2021 to create national cross-media champions. In the growing competition with global tech platforms, exclusive local content is the key to success – in particular to boost our streaming services. With added scale, resources and creative power, RTL Deutschland and Gruner + Jahr combined will increase investments into what matters most: premium content and journalistic excellence. The enlarged RTL Deutschland will offer German audiences the broadest spectrum of high-quality entertainment and independent information – while advertising clients will benefit from the most advanced and brand-safe advertising opportunities," Thomas Rabe, RTL Group CEO.