Today, Ringier Axel Springer Media AG, a joint venture of Axel Springer AG and Swiss Ringier AG, and the Polish media company TVN S.A. have entered into an agreement regarding the acquisition of 75 percent of the shares in Polish Onet.pl, a subsidiary of TVN. The purchase price amounts to PLN 956.25 million (currently approximately EUR 217.5 million). The underlying value of the transaction therefore amounts to PLN 1,275 million.
Onet.pl is the leading online portal in Poland and reaches about 70 percent of the Polish internet users with its offer of news and various services. With the acquisition of a majority in Onet.pl, Ringier Axel Springer Media AG expands its digital business.
For the full story click Onet.pl