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Ringier Axel Springer Media withdraws from Czech market

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Ringier Axel Springer Media withdraws from Czech market

Article ID:

17278

According to a company press release, Ringier Axel Springer Media (a Joint Venture of Ringier AG and Axel Springer SE) has sold its Czech subsidiary Ringier Axel Springer CZ and its stake in the Czech press wholesaler První novinová společnost (PNS).

The buyers are the entrepreneurs Daniel Křetínský and Patrik Tkáč. The price is given as 170 million Euros.

CEO Mark Dekan says: „In taking this step, Ringier Axel Springer Media AG will focus even stronger on its activities that already have a leading position in the digital field in their markets."  The sale in the Czech Republic relates mainly to the print business (newspapers Blesk, Aha! and Sport as well as a number of magazines). In Poland, Serbia and Slovakia, where the Joint Venture already has a strong digital fundament, it intends to expand its business further.

The transaction is subject to approval by the relevant antitrust authorities.

See press release. 

Author

Charlotte Janischewski's picture

Charlotte Janischewski

Date

2014-01-06 16:21

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