Motorsport Network, LLC will be the new owner of smg. The Proceeds from the disposal: € 2.448 million leading to book profit of approximately € 600,000.
CN: Motorsport Network, LLC kauft _wige Anteile von smg
Köln, 31. Juli 2017.
_wige MEDIA AG (in future: SPORTTOTAL AG) today signed agreements on the sale of its 51% stake in the Munich-based sport media group GmbH to Motorsport Network, LLC, Miami (Florida). _wige MEDIA AG generates proceeds of € 2.448 million from the disposal and a book profit of around € 600,000. With Motorsport-Total.com and Formel1.de, sport media group GmbH is the market leader for motorsport portals in Germany, Austria and Switzerland. The portals developed very well under _wige MEDIA AG’s management and extended their coverage by around 40% in 2017: Motorsport-Total.com and Formel1.de, for instance, have meanwhile achieved some 22 million and 20 million page impressions a month respectively. In selling sport media group GmbH, _wige MEDIA AG continues to concentrate on the rapidly scalable digital business with sporttotal.tv, venues (infrastructure projects for sports facilities) and live (selling of rights, live events, events and content marketing).