Ringier/Springer: Eastern Europe joint venture operational
The joint venture between the two media companies, Ringier and Axel Springer, has been operational since Thursday. Ringier Axel Springer Media, as the company has been named, is now just waiting for approval from the Hungarian antitrust authorities.
The merger has already been approved by the antitrust authorities in Poland, Serbia, Slovakia, the Czech Republic, Switzerland, Germany and Austria. This was announced by the new company on Friday. Now, in the next phase, the parts of the company contributed by the partners will be merged and the internal structures of the new company will be established.
The two media companies announced the formation of the joint venture on March 23, 2010.
Axel Springer/Ringier - Joint Venture: Joint investment in Eastern Europe
Ringier Axel Springer Media is one of the largest media companies operating in Eastern Europe with a turnover of around 414 million euros and around 4,800 employees. The goal is a joint IPO in three to five years. Florian Fel, most recently CEO Central Europe at Ringier and previously Managing Director of Axel Springer Poland for many years, will head the company. Mark Dekan takes over the position of Chief Financial Officer CFO.
The two media companies announced the formation of the joint venture on March 23, 2010.
Axel Springer/Ringier - Joint Venture: Joint investment in Eastern Europe
Ringier Axel Springer Media is one of the largest media companies operating in Eastern Europe with a turnover of around 414 million euros and around 4,800 employees. The goal is a joint IPO in three to five years. Florian Fel, most recently CEO Central Europe at Ringier and previously Managing Director of Axel Springer Poland for many years, will head the company. Mark Dekan takes over the position of Chief Financial Officer CFO.
