Ringier AG and Axel Springer AG will combine their operations in five Eastern European countries in a new company to be headquartered in Zurich. Each partner will hold 50 percent of the new company.
Combined, both companies showed Eastern European sales on a pro-forma basis 2009 totaling approximately €414 million (CHF 601 million) an EBITDA of €62 million (CHF 89 million). With 4,800 employees, it will be one of the largest media enterprises in Eastern Europe. Axel Springer will contribute the business of its subsidiaries in Poland, Czech, and Hungary, while Ringier will bring its operations in Serbia, Slovakia, Czech, and Hungary to the joint venture...
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