DGAP-News: _wige MEDIA AG takes over a majority stake in the sport media group
DGAP-News: _wige MEDIA AG / Key word(s): Investment
_wige MEDIA AG takes over a majority stake in the sport media group
29.04.2016 / 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: info@wige.de
Investor Relations:
BSK Becker+Schreiner Kommunikation GmbH
Tobias M. Weitzel
Tel.: +49 [0] 2154_ 81 22 16
Email: weitzel@kommunikation-bsk.de
29.04.2016 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:
info@wige.de
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
459365 29.04.2016