media details [cee]

October 12, 2007

Ringier Romania is selling its daily sports newspaper

Filed under: newspapers,romania,transactions — iann @ 9:15 am

The transaction through which the president of Media Pro Group will regain the daily sports newspaper Pro Sport, is awaiting for the Competition Council approval, writes one of the romanian financial newspaper, Business Standard. The transaction value is worth EUR 8,3 million with VAT included. Although at the time of Pro Sport’s selling [2002], its first owner, Sarbu signed a contract which stipulated that he didn’t have the right to launch or to buy, for 5 years, any other daily newspaper, interdiction that had as deadline, February 2008, it can be violated thanks to the fact that the transaction involves the same companies, Media Pro and Ringier. The transaction takes places at 5 years since Sarbu has sold the same newspaper to the Ringier Romania for 6,5 million $, without VAT (7,7 million $ with VAT included// 8,1 million euros)

Adrian Sarbu, the MediaPro’s boss has studied the possibility of launching or buying a sports newspaper even since march, this year, but the opportunity became real when Central European Media Enterprises (CME) took over the television channel A positive fact of this transaction is that it will make easier the access of Media Pro to the copyrights of the national football team games, starting 2008.

According to certain sources in the publishing industry, 2007 is the first year when ProSport doesn’t have any financial losses, the incomes from advertising space in 2007 being exceeded by 30%. The daily newspaper will be purchased by Sarbu through his company, Publimedia, which is owned by him integrally, whithout the American partner CME who is the main shareholder in other companies run by Sarbu on the audio-video segment.

Following this transaction, the Pro Sport’s employees who won’t agree to continue their work at the newspaper, will receive from Ringier a three months compensation in advance. Some rumors in the typography industry say that Ringier management has already noticed the printing houses in Timisoara and Cluj that the newspaper would no longer be printed in the certain locations.

At the time of its selling in 2002, Prosport was leader on the segment in terms of copies and audience, but Gazeta Sporturilor gained the first position, being run by one of the best journalists and press managers, Catalin Tolontan. Together with another well-known sports journalist, Ovidiu Ioanitoaia, has launched successfully daily sports newspaper prosport (in 1997), but after 6 months from the selling of the Media pro’s newspaper to Ringier, the whole team (108 people) has decided to leave the company and go to gazeta sporturilor [intact group] in order to make it number 1.
S1 2007:

Gazeta: 71.402
Prosport: 65.390

Prosport: 76.425
Gazeta: 73.423

Prosport: 67.063
Gazeta: 64.153


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