Germany's RTL bought a 66.6 percent stake in Alpha Media Group for 125.7 million euros ($184.2 million), marking its entrance into the Greek television market, Reuters reports.

RTL, Europe's biggest commercial TV network, said in a statement on Tuesday it had signed an agreement with Dimitris Contominas, the owner of Alpha Media Group, the third-largest TV company in Greece.

The transaction is subject to approval by the Greek competition commission and is expected to close in October or November, RTL said.

Under the terms of the deal, RTL will occupy five of the nine seats on the Alpha Media Group board of directors and will have the right to nominate the chief executive and chief operating officer, while Contominas will nominate the chairman of the board of directors.

RTL said Greece's net TV advertising market grew to more than 500 million euros in 2007 from around 300 million euros in 2001 and is expected to grow 6 to 7 percent in the medium term.

Alpha Media Group has annual sales of around 100 million euros, RTL said.

The Luxembourg-based broadcaster has interests in 10 European countries and has been looking at most broadcasting assets that come up for sale on the continent, though it has a record of being cautious in what it actually buys.

RTL is owned by media conglomerate Bertelsmann, which said last month it would consider cutting its stake to 75 percent from 90 percent, freeing RTL shares that could be used as acquisition currency.