Ringier Axel Springer Media expands country portfolio to include Hungary

Under competition law, the planned contribution to the joint venture of Ringier and Axel Springer is conditional on the sale of part of the Hungarian portfolio of Axel Springer and Ringier. The buyer is VCP Capital Partners (Vienna Capital Partners). In addition to the national daily Népszabadság and the business newspaper Világgazdaság, Vienna Capital Partners is acquiring several regional newspapers as well as sports, women's and youth magazines.

Ringier Axel Springer Hungary's portfolio will be composed of titles with a strong market position and very good digitization prospects, Ringier writes in a statement. It mainly comprises the tabloid and women's segment including the tabloid brand Blikk, which celebrates its 20th anniversary this year.

The Blikk Group includes the tabloid Blikk and Blikk.hu, Hungary's biggest Sunday newspaper Vasarnapi Blikk, as well as the women's magazine Blikk Nők and other line extension titles. The portfolio will also include a range of women's magazines, TV magazines and licensed titles such as Glamour, Geo and Auto Bild and their respective online editions. Ringier's Kiado Kft. printing plant - the largest newspaper printing plant in the country - will be added to the Vienna Capital Partners portfolio. Axel Springer Hungary's newspaper printing plant, Nyomda Kft. in Kecskemet, will be part of the newly created country company.

CEO of Ringier Axel Springer Hungary will be Jozsef Bayer, the current CEO of Axel Springer in Hungary. Attila Mihók, current General Manager of Ringier Hungary, becomes the new CEO of the Vienna Capital Partners portfolio in Hungary.

Florian Fels, CEO Publishing of Ringier: "An excellent, future-oriented solution has been achieved for the employees and the development of the Hungarian business. Two new, strong media companies are being created - each equipped with a homogeneous portfolio - which on the one hand will preserve Hungarian media diversity and on the other hand will go their own way following a publishing idea. My special thanks go to Attila Mihók and his team at Ringier Hungary, who have accompanied this demanding process with professionalism and commitment."

Mark Dekan, CEO Ringier Axel Springer Media: "The expansion of our country portfolio to include Hungary means access for us as a Group to another interesting market in Central Europe. For the national company in Hungary, it means above all access to the technological and journalistic know-how of our joint venture. Ringier Axel Springer Media AG has significantly reorganized its portfolio over the past 15 months. Today, we already generate more than half of our revenues in the digital sector."

The closing of the transaction is subject to approval by the Hungarian competition and media authorities.