The joint-stock company CE MEDIA ONLINE has announced today that on August 29, 2007 Sanoma Magazines Praha, Ltd., gained 100% share of the company. CE MEDIA ONLINE, Inc. is the operator of an important Czech portal on living and building TVUJDUM.CZ and Slovak portal on living and building TVOJDOM.SK.
„Acquisition of portals TVUJDUM.CZ and TVOJDOM.SK is another successful step towards fulfilling the strategy of expansion in the area of the Internet media,“ said David Beška, Publisher Online Operations for Sanoma Magazines Praha.
After several months of negotiation with a number of interested major publishing houses and private investment companies, CE MEDIA ONLINE finally agreed on the sale of 100% of its shares with the publishing house Sanoma Magazines Praha.
In the Czech Republic, Sanoma is owner of one of the most popular magazines on living DŮM A ZAHRADA as well as of another magazine called LIVING. By joining on-line and printed titles Sanoma reaches the dominant share in the market of the lifestyle media on living.
After gaining the majority share in the project eStranky.cz, thanks to purchase of the portal TVUJDUM.CZ, Sanoma Magazines Praha has broadened its portfolio by another large-scale on-line project. Sanoma is interested in further expansion in the field of the Internet media.
„I consider the nine years of building of the company to be very successful. I am leaving in the moment when TVUJDUM.CZ and TVOJDOM.SK show the best results and steady growth. CE MEDIA ONLINE currently provides content to almost 500.000 readers per month, generates the growth of turnover in tens of percent and creates profit. The decision to sell the company only reflects my intention to concentrate fully on the publishing activities in the Russian Federation where I established the company MEDIA ONLINE OOO in December 2005“ claimed Ladislav Semetkovský, the founder of the company.
The price of the transaction was not published.
Sanoma Magazines Praha, Ltd. is a subsidiary of Sanoma Magazines International B.V. which is a part of the Finnish media concern SanomaWSOY. With its annual turnover of 2.742M EUR and 15.732 employees, SanomaWSOY belongs to the greatest media houses in Europe. In the Czech Republic Sanoma Magazines Praha, Ltd. publishes popular magazines, such as Vlasta, Květy, Story, National Geographic and others. More information at http://www.sanoma.cz, http://www.sanomamagazines-int.com, http://www.sanomawsoy.com.
CE MEDIA ONLINE, Inc. is a publisher of the dominant Czech portal on living and building TVUJDUM.CZ and Slovak portal on living and building TVOJDOM.SK. The company also provides complete e-business solutions to its strategic partners. More information at http://www.mediaonlineglobal.com.
Contact for media:
CE MEDIA ONLINE, Inc.
Moravkova 1254/18
10400 Prague 10
Ladislav Semetkovsky, CEO
E-mail: ladislav.semetkovsky@tvujdum.cz
Tel.: +420 255 702 055