Est Media closes sale of media businesses

Initiatives

Hungarian publisher Est Media, closed its media units in Hungary, Bulgaria and Romania yesterday, the publisher announced. Hungarian companies EMG Mediacsoport, EXIT Kiadoi and Phonon 450, as well as Bulgaria's Programata Media Group and Sapte Nopti of Romania, bought the stakes held by Est Media.

The publisher announced in September that it would sell its subsidiaries due to the poor performance of the weekly program guides supported solely from advertising income. The Hungarian companies Emerging Media Group, Ingyenes Műsorújság, Magyar Vendor and Estért were also removed from the consolidation, Est Media said.

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