Ringier Axel Springer buys Onet.pl
Following clearance by the antitrust authorities, Ringier Axel Springer Media today completed the acquisition of 75 percent of the shares in the leading Polish online portal Onet.pl.
The previous sole owner, TVN, one of the country's largest TV broadcasters, will in future still hold an indirect 25 percent stake in the online company. With its news and services offering, Onet.pl reaches around 70 percent of Polish Internet users.
With the acquisition of a majority stake in Onet.pl, Ringier Axel Springer Media is continuing its digitization strategy in Central and Eastern Europe: With the acquisition of Onet.pl, the online share of revenues now totals 27 percent. Ringier (Zurich) and Axel Springer (Berlin) bundle various foreign activities in the German-Swiss joint venture.
Florian Fels, CEO of Ringier Axel Springer Media, says in a statement: "With the acquisition of Onet.pl, we have come significantly closer to our goal of generating a large part of our revenues in the digital business over the coming years. In addition to Serbia and Slovakia, we are now also the market leader in the digital sector in Poland. At the same time, the cooperation with TVN creates a unique network of TV, online and print expertise in Poland."
