Hungary's MTelekom to buy out content providers
Magyar Telekom plans to buy out its partner IKO Production Kft and acquire a full stake in two domestic media content firms to become the leading interactive mobile service provider in Hungary.
The holding jointly controls media content providers IKO New Media Kft and IKO Content and Rights Kft as well as a 31% stake in M-RTL Zrt, Hungary's leading commercial television channel, a unit of Luxembourg-based RTL Group. The deal would grant full control for Magyar Telekom over the two content providers and Ft 2 billion ($12.33 million) in compensation in return for surrendering its stake in M-RTL, the statement said.
The two companies had revenues of over Ft 2.8 billion last year, it said. (Reuters)
ADVERTISEMENT
Hungary Trade Surplus at EUR 308 mln in April
Parl't Approves Amendments to Legislation on Judiciary
H2Offices 1st Phase Gets Leed Platinum Certification
Landmark Budapest Dept Store to Reopen After HUF 8 bln Renov...
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
