Management buys out portfolio.hu

Competition

screengrab

The management of portfolio.hu has purchased the financial and economic news portal from its previous owner the CEMP media group, the buyers announced yesterday, according to online news service index.hu.

Screengrab of the website.

According to an announcement detailing the transaction, NT2016 Kft., a company owned by Gabriella Balogh and Zoltán Bán, purchased portfolio.huʼs publisher Net Média Zrt. from Central European Media & Publishing (CEMP) on October 26, 2016. 

Balogh is a member of the board of directors of CEMP, while Bán is CEO of Net Média Zrt.

Besides portfolio.hu, Net Médiaʼs holdings also include household financial advice site penzcentrum.hu and specialist agricultural economics portal agrarszektor.hu. Within the framework of the transaction, the buyers also acquired CEMP Trade Kft., which offers FX and CFD trading services under the Alfatrader brand name.

The buyers financed the management buyout from loans and own resources, the announcement adds.

Besides other publications, CEMP is also the publisher of index.hu.

Hungary Account Deficit at EUR 561 mln in Q4 Debt

Hungary Account Deficit at EUR 561 mln in Q4

Moldovan Pensions to be Increased as of April 1 World

Moldovan Pensions to be Increased as of April 1

Schoenherr Names Miklós Klenanc as Head of Local M&A Practic... Appointments

Schoenherr Names Miklós Klenanc as Head of Local M&A Practic...

Hungarian Wine Marketing Agency to Host Summit Drinks

Hungarian Wine Marketing Agency to Host Summit

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.