_wige MEDIA AG takes over a majority stake in the sport media group

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Cologne/Schwabach, 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 %.

Peter Lauterbach, CEO der _wige MEDIA AG:

“With _wige content and the portal’s internationalisation, this investment combines digitalisation and internationalisation, yielding high earnings potential.”

In order to finance its growth, the company secured gross issuing proceeds of € 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.

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