launched an initial public offering on the Toronto Stock Exchange, and under which BBTV founder and CEO Shahrzad Rafati has become the controlling stakeholder.
RTL said in a statement, “The sale is consistent with RTL Group’s three-priority strategy — core, growth, alliances and partnerships — which includes continuously reviewing the Group’s portfolio and growing its European digital assets in the areas of streaming, advertising technology and digital video.”
Rafati and other directors of the company took approximately 10% of the IPO shares and collectively own approximately 19% of BBTV’s outstanding subordinate voting shares. Rafati owns approximately 34% of the total equity shares of the company and holds approximately 83% of the total voting power. Rafati founded BBTV in 2005, and the company today manages, distributes and monetizes content on YouTube and other platforms that reaches a global audience. BroadbandTV’s key revenue streams include ad sales, content management and mobile gaming apps.
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