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Econet.hu, Geomedia establish JV

Media company econet.hu established a joint venture with peer Geomedia that could contribute as much as HUF 500m a year to consolidated revenue. Media portfolio sales of both econet.hu and Geomedia will be handled by the JV, called EMG Sales House, in which econet.hu holds 74% and Geomedia 26%. Economy of scale achieved by cooperating in the area of print media will result in savings later, econet.hu said. Geomedia expects the cooperation to boost advertising revenue of its portfolio of magazines. (MTI-Econews)