Ringier to acquire Eastern Europe assets of Axel Springer.

Ringier, an operator of a digitalized and diversified Swiss media company, agreed to acquire assets of Axel Springer, a German digital publishing house, in Hungary, Serbia, Slovakia, Estonia, Latvia and Lithuania. Financial terms were not disclosed. “The acquisition of the Axel Springer shares in Hungary, Serbia, Slovakia and the Baltic states is an important milestone in our business development. This transaction is an acknowledgement of our long-term commitment to being a modern media investor in Eastern Europe. The portfolio in these countries suits us ideally and will further strengthen the Ringer ecosystem. In addition, Serbia, Slovakia and Hungary serve as a good basis for expanding our digital sports media strategy. I am pleased that we will be able to further advance our media and digital marketplaces in Poland with Axel Springer. We will work together to continue to make investments in this large and exciting market," Marc Walder, Ringier CEO.