Ringier acquires Sportal Media and Digital Ventures in Bulgaria
The Ringier media group is expanding its presence in Bulgaria by acquiring a majority stake in Sportal Media Group and Digital Ventures. According to a press release issued Wednesday, the acquisitions mark a milestone in the implementation of the company’s sports media strategy.
The parties have agreed not to disclose the sale price or the valuation of the acquired companies. However, Ringier describes the acquisition as the "biggest investment in recent years. The transaction is expected to be completed in the second quarter of 2021, subject to the approval of the antitrust authorities.
Sportal Media Group brings together the leading online media in Bulgaria under one roof. The group operates digital facilities in areas such as sports, news & politics, business, lifestyle, e-commerce and services, plus 45 channels in social media. The main brands are Sportal.bg and Novini.bg. The portal employs more than 60 journalists.
Digital Ventures is reportedly behind Sportal365 - the leading international content management system (CMS) for sports news. The system can collect and aggregate sports data from leading sports content providers and integrate sports betting and advertising.
The move will advance Ringier's strategy to transform the former publishing house into an international, technology-driven and diversified media company, Ringier said. (SDA)
