DPG Media: a story behind the deal

Can the right media deal be done for a better world? 

Sector leading and family-owned DPG Media harboured the ambition to own a TV network in the Netherlands. This would be in synergy with its Belgian portfolio and could further broaden its offering within a competitive media landscape.

So, when DPG Media had a “one-of-a-kind” opportunity to acquire RTL Netherlands, it turned to its trusted legal and tax advisers at Loyens & Loeff with whom it had previously “immediately clicked - a perfect fit for the nature of the deal and our culture”.

The story of this deal is a real blockbuster, playing across borders. Trust, integrity and transparency on commitments led to a positive ending, despite all that stood in its way.

The opening sequence saw our law and tax teams carrying out due diligence and scrutinising the deal. This involved our key markets of the Netherlands and Luxembourg (The ‘L’ in RTL), where the broadcasting licences have historically been held.

At first, a smooth negotiation involving our combined M&A, competition and notary teams resulted in an agreement being quickly signed. But then the deal faced the complex task of being cleared by the Dutch Authority for Consumer & Markets (ACM), with an unpredictable outcome; the main concern centred on DPG Media’s acquisition of free online news, and the issue of media independence and plurality within a bigger, consolidated group.

This required a patient and honest approach as we and the client worked from the same script – a committed, multidisciplinary team making it a fair agreement for everyone. In a parallel plot line, our experts were also a “perfect match” in helping to get the right tax position and working out Pillar Two.

In the end, after a long and detailed process (and some late nights), the green light was given along with a set of negotiated commitments to satisfy the ACM and, by extension, the Netherlands’ viewers, readers and advertisers; further underpinning DPG Media's purpose to enrich people’s lives and to contribute to a better world.

As the credits roll, and in the final words of DPG Media: “Loyens & Loeff is a dedicated, reliable and pro-active business partner, with high-level experts who understand us and with a great mindset to get the deal through. We felt we were in it together.”

So, when it comes to helping DPG Media fulfil its ambitions, live its purpose and compete in a digital media future, Loyens & Loeff’s ‘performance’ is on point.