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M&A Activity • Apr 29, 2016
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News Details
Corporate | 29 April 2016 15:30
_wige MEDIA AG takes over a majority stake in the sport media group
DGAP-News: _wige MEDIA AG / Key word(s): Investment
2016-04-29 / 15:30
The issuer is solely responsible for the content of this announcement.
_wige MEDIA AG takes over a majority stake in the sport media group
Cologne, 29 April 2016. As announced, _wige MEDIA AG is taking over a majority holding in Munich-based sport media group which, with motorsport-total.com and formel1.de, is the market leader for motor sports portals in Germany, Austria and Switzerland. As agreed in November, _wige MEDIA AG, which already holds 16.7 %, has exercised its option to purchase and has increased its stake to 51 % in a first step. The takeover is expected to take effect on 30 September 2016. Over the course of the year, _wige intends to raise its participating interest by up to 85 %.
“With _wige content and the portal’s internationalisation, this investment combines digitalisation and internationalisation, yielding high earnings potential”, stated Peter Lauterbach, CEO of _wige MEDIA AG. In order to finance its growth, the company secured gross issuing proceeds of EUR 5 million from two capital increases. The capital increase also enables _wige to prefinance new large-scale projects and to forge ahead with promising social media projects.
About _wige MEDIA AG
As one of the world’s leading marketing and production companies in motor sport as well as in other areas of sport in Germany, _wige MEDIA AG produces the Formula1 races, the DTM German Touring Car Masters, the Handball Champions League, the ADAC Zurich 24-hour Race at the Nürburgring and German Football League games, as well as organising events and content for prestigious companies such as Porsche, Audi, Mercedes/AMG, Red Bull, VW and Deutsche Post AG. In the financial year 2016, the company anticipates revenues in a volume of at least EUR 70 million and EBITDA of at least EUR 4 million.
Contact:
Company:
_wige MEDIA AG
Am Coloneum 2
50829 Köln
Germany
www.wige.de
Tel: +49 [0] 221_7 88 77_ 0
Fax: +49 [0] 221_7 88 77_ 199 Email: [email protected]
Investor Relations:
BSK Becker+Schreiner Kommunikation GmbH
Tobias M. Weitzel
Tel.: +49 [0] 2154_ 81 22 16
Email: [email protected]
2016-04-29 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
| Language: | English |
| Company: | _wige MEDIA AG |
| Am Coloneum 2 | |
| 50829 Köln | |
| Germany | |
| Phone: | +49 (0)221 7 88 77 0 |
| Fax: | +49 (0)221 7 88 77 199 |
| E-mail: | [email protected] |
| Internet: | www.wige.de |
| ISIN: | DE000A1EMG56 |
| WKN: | A1EMG5 |
| Listed: | Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Stuttgart |
| End of News | DGAP News Service |