Mega Merger Takes Place In Hungary’s Media Sector
- 4 Aug 2015 9:00 AM
Julius Media Holding Kft., Mediaworks Kiadó és Nyomda Kft., Mediaworks Regionális Kiadó Kft., Zöld Újság Zrt., Petőfi Lap- és Könyvkiadó Kft., Népújság Kft. Békéscsaba, Mworks Print Zrt., and Mediaworks Magazines Kiadó Kft. decided to merge into one single company on 29 June of this year, online business portal hvg.hu reported yesterday based on data from official corporate registry Cégközlöny.
The target date for the effective merger is October 31, 2015. According to data gathered by the business portal, the total assets of Mediaworks Hungary Zrt. will be HUF 10.674 billion.
The company, currently owned by Vienna Capital Partners, was founded in October 2014 and acquired most of the Hungarian assets of Ringier és Axel Springer, which included Nemzeti Sport, Népszabadság and Világgazdaság in addition to another 60 media brands.
The group’s revenue exceeded HUF 15 bln a year at the time of the acquisition.
Source: BBJ.hu
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