The Czech group Media Invest, which is co-owned and run by billionaire Daniel Křetinský, is buying the radio assets owned by French media group Lagardere in the Czech Republic, Slovakia, Poland and Romania, hotnews.ro informs, quoting Reuters.
This transaction is the first in a series of disposals concerning Lagardere Active assets within the scope of the strategic redeployment announced by Arnaud Lagardere on 8 March 2018.
The selling price of these assets is EUR 73 million for consolidated revenue of around €56 million in 2017.
The French media group had Europa FM and Virgin Radio (former Radio 21) in Romania.
Czech Media Invest said the assets – which include top radio stations like Evropa 2 and Frekvence 1 in the Czech Republic and Radio Zet in Poland – had consolidated revenue of EUR 56 million in 2017 and would help it expand in radio.
The Czech media group is the publisher of the Czech Republic’s top-selling tabloid Blesk and three other daily papers, and several magazines. The company also owns two printing plants, is a leader in book publishing and press distribution with over 18,000 delivery points.