RTL Hungary buys 30% of Central Digital Media

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The Hungarian subsidiary of German commercial broadcaster RTL has committed to expanding its online presence by acquiring a 30% holding in Central Digital Media (CDM), the online portfolio of Central M茅diacsoport, according to reports.

RTL Hungary CEO Gabriella Vidus.

The acquisition was announced by the two companies yesterday at the Internet Hungary conference, being held in Si贸fok near Lake Balaton. No further details were discussed at the announcement, according to reports, and the transaction price was not revealed.

Before the deal goes through, it requires the approval of the Hungarian Competition Authority (GVH).

Web news portal 24.hu, itself part of CDM始s online portfolio, noted that it is no secret that RTL Hungary wishes to increase its presence on the digital market, and that the group had created its Digital and Development Directorate with this purpose in mind in 2015. The next step in this strategy is the purchase of a 30% share in Central始s online portfolio, the site noted.

CDM始s varied digital presence includes numerous websites and mobile applications, with brands such as Nlcafe.hu, Startlap.hu, H谩zipatika.com, Vezess.hu and 24.hu. Thanks to these, it is among the top three online media companies based on aggregate visitor data, notes 24.hu.

"We believe in the digital world and are committed to the Hungarian market, making it only natural for us to invest in Central Digital Media," 24.hu quoted RTL Hungary CEO Gabriella Vidus as saying.  "It始s important to stress that we don始t see the online sphere as only a secondary platform, and that we already produce 60-100 short-form videos daily, while extra content connected to our new shows has produced huge growth on our digital platforms," Vidus added.

"We have found a wonderful professional partner for further development of our digital portfolio. We始re convinced that through this future cooperation we can create value on the domestic digital market both for visitors and our advertisers," said Zolt谩n Varga, CEO of Central M茅diacsoport, quoted by 24.hu.

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