Germany's Bertelsmann has announced that it is planning to sell a stake in broadcasting company RTL Group worth as much as 1.5 billion euros.

The sale would cust the stake of Bertellsmann in the broadcaster from 92.3% to as little as 75% in a secondary placement, the company confirmed a report by Reuters last month.

Bertelsmann has sought funds to support growth goals and its plan to resconstruct to compete in the fast-changing markets. In September last year, the company announced that it looks for strategic partnerships and for major acquisitions as it aims to expand into the digital content industry.

The media conglomerate has also bought out KKR & Co. LP, its partner, in music rights firm BMG.