Opus Global makes television acquisitions
Listed holding company Opus Global on Monday said it has acquired indirect stakes in a television content provider and a TV ad agency.Expanding in multiple directions, Opus most recently partnered with a Czech firm to buy the Mátrai Erőmű power plant.
The Opus group indirectly acquired a 17% stake in the IKO group, the biggest supplier of content to commercial television broadcaster TV2, and a 17% stake in Atmedia, an ad agency contracted with TV2 as well as with MTVA, the content provider for Hungarian public media, among other business partners, Opusʼs PR agent said in a separate statement.
The stakes were acquired with the consent of shareholders with pre-emptive rights. The acquisitions were made by Status Capital Venture Capital Fund Management, in which Opus holds a 25% stake. Lőrinc Mészáros, the business oligarch and close ally of Prime Minister Viktor Orbán, owns 75% of the fund manager.
Online portal index.hu notes that Atmedia is owned by András Tombor, a former chief adviser to Orbán, and that the firm has sold significant advertising time of public media MTVA, TV2 and several commercial television stations.
Last year Atmediaʼs revenues reached HUF 27.8 billion, almost HUF 19 bln up on the previous year, with after-tax profit of HUF 1.1 bln. Several government-owned companies and institutions bought advertising space through Atmedia, index.hu notes.
Avg Hourly Pay Rate for Blue-collar Workers Climbs 16% in Q1
Bulgaria's Household Income, Spending Rise 20% in 2023
Baranya County Police Bust Phishing Gang
Spago Budapest Offering Unique Sunday Brunch Experience
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.
