Mega merger takes place in media sector
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.
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.