Ringier and Springer buy majority stake in Polish online portal
Ringier and Axel Springer are jointly entering the Internet business in Poland. Ringier Axel Springer Media is acquiring a 75 percent stake in Onet.pl, Poland's leading online portal.
This was announced by the company on Monday, according to SDA. Onet.pl is owned by the Polish media company TVN, according to the press release. It is the leading online portal in Poland and reaches around 70 percent of Polish Internet users with its range of news and various services. Ringier Axel Springer Media is thus further expanding its digital business. The purchase price amounts to around EUR 217 million, according to the statement. The antitrust authorities still have to give their approval. The transaction is to be completed by January 1, 2013.
