Todd Spangler NY Digital EditorEuropean media giant RTL Group reached a deal to sells SpotX, its U.S. ad-tech subsidiary, to Magnite for $1.17 billion in cash and stock.Magnite said that with the acquisition of SpotX, the combined entity will “create the largest independent [connected TV] and video advertising platform in the programmatic marketplace.”The sale of SpotX to L.A.-based Magnite, which bills itself as the industry’s largest independent sell-side advertising platform, is expected to close in the second quarter subject to subject to regulatory approvals and other usual closing conditions.“The sale of SpotX is fully in line with our strategy to concentrate on growing our European digital businesses in streaming, advertising.
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