RTL Hungary buys 30% of Central Digital Media

Retail

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 Médiacsoport, 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 Siófok 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 CDMʼs 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 Centralʼs online portfolio, the site noted.

CDMʼs varied digital presence includes numerous websites and mobile applications, with brands such as Nlcafe.hu, Startlap.hu, Házipatika.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.  "Itʼs important to stress that we donʼt 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. Weʼre convinced that through this future cooperation we can create value on the domestic digital market both for visitors and our advertisers," said Zoltán Varga, CEO of Central Médiacsoport, quoted by 24.hu.

HUPX Joining Serbian, Slovenian Peers in Adex Power

HUPX Joining Serbian, Slovenian Peers in Adex

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.