NRJ Group to open subsidiary TowerCast | |
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04-03-2008
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Announcing it is going to concentrate its activities on radio, TV and the internet, French media group NRJ said it planned to disengage from broadcasting subsidiary TowerCast and reduce its international presence. Chairman of the board of directors, Marc Pallain last week presented a strategic plan called NRJ 2010, and asserted NRJ wanted to reduce if not withdraw its presence in Finland, Austria and Germany. Towercast’s capital could be opened up to a new potential majority shareholder. NRJ aims at saving €20M each year between now and 2010.
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