Media giant RTL Group could shift jobs from Luxembourg to Cologne, Germany, as part of a review of its corporate centre.
In a press statement published on Wednesday concerning a new leadership structure, the group said that the executive committee was reviewing the “role and size of RTL Group’s Corporate Centre in Luxembourg”.
It wrote: “The Executive Committee will also explore whether certain corporate positions could be transferred to Cologne. The review is expected to be completed by end of September 2019.”
According to the group’s 2018 annual report (PDF), it employs some 16,000 staff globally. A large part of its operations are based in Luxembourg-Kirchberg.
Mediengruppe RTL Deutschland, which is located in Cologne, will lead a newly created “European advertising technology development unit,” the group said. The group wrote further that Groupe M6 would build the “technology backbone of RTL’s streaming servings”.
The same day, RTL group published record-breaking first-half-year revenues of €3.2 billion. Profit for the period was up 21% at €443m. Its foray into video-on-demand appears to be paying off--VOD platforms in Germany and the Netherlands recorded a 46.2% increase in paying subscribers in the first half of the year.