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)
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