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.