Until now, the 15min group owned a 40% stake in the Lithuanian branch of Postimehe. Now, however, they have agreed to completely take over the share. “The management of 15min Group has done a good job and the desire to take over all shares shows confidence in the future of the Lithuanian media business,” said Toomas Tiivel, Chairman of the Board of Directors of Postimees Group.
The leader of the 15 minutes Tomas Balžekas for his part, he noted that the agreement is part of a broader vision. “2021. Returning to the company that my friends and I founded in 2016 is about bigger ambitions. To grow faster than the competition, buy other companies, consolidate the media market and form a strong Lithuanian media group – this is part of my vision. I feel like I’ve come home after a long journey and I’m ready to roll up my sleeves even more,” he told the Lithuanian Delf.
“My partners and I believe that media is a very local business. Its transparency and sustainability are very important for society and we believe that running a business requires high values and ideals. This is a great responsibility,” notes Balžekas. “We believe that together we can develop our digital product order well and that this business is not only significant, but also stable in the long term.”
The value of the sale transaction is not disclosed.
15min Group is the second largest news portal in Lithuania in terms of monthly audience. The magazines Žmones, Leņų and Ji and the Lithuanian unit BNS also belong to the company.
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2023-12-21 09:28:42
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