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VCP Group has today sold Mediaworks Hungary Zrt. to Opimus Press Zrt., a wholly owned subsidiary of the Budapest Stock Exchange listed Opimus Group Nyrt.

Mediaworks Hungary Zrt. is, a few years after its formation, a success story. It developed from the purchase of a large number of Hungarian publications from Ringier AG and Axel Springer SE and was able to successfully complete an acquisition of a number of regional papers at the end of September 2016 (Seller: FUNKE Mediengruppe, see Mediaworks’ press release of 30th September 2016). It has an excellent foothold in regional publications and a strong national presence in the segments sport, business and magazines.

Based on expressions of interest to purchase the company, already received during the last months from a number of parties, (and, in particular, motivated by the spread malign rumours, defamations and hostile actions in connection with the temporarily suspended daily paper Népszabadság the closure of which was at no time an option) VCP has decided, at short notice, to sell Mediaworks Hungary Zrt.

Out of various possibilities Opimus Press Zrt. was selected as purchaser, having made an offer after the temporary suspension of Népszabadság, in which it declared an interest and preparedness to seriously review the re-launch, as always planned by us, of the temporarily suspended Népszabadság.

We hope that the new owner will be successful in continuing the positive development of Mediaworks Hungary as well as in solving the current issues at Népszabadság.

“I heartily thank all of the most professional staff members of Mediaworks which have achieved great things in an outstanding and loyal manner” said Heinrich Pecina, Senior Partner of VCP.

Source: MTI; 20161025

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