DLA Piper Horvath & Partners has advised Mediaworks Hungary Zrt. on the acquisition of Pannon Lapok Tarsasaga Kiadoi Kft. from Funke Mediengruppe. GSV Legal advised Mediaworks on Austrian matters. Schoenherr advised Funke Mediengruppe on the acquisition.
After approval by Hungary's National Media and Infocommunications Authority and the Hungarian Competition Authority, the acquisition closed on September 30, 2016. The purchase price was not disclosed
Mediaworks, with over sixty media brands, is one of the largest media enterprises in Hungary. Mediaworks has an annual turnover of approximately HUF 16 billion (approximately EUR 52 million), has nearly 650 employees, and owns newspapers such as Nemzeti Sport, Nepszabadsag, Vilaggazdasag, and other regional newspapers in eight Hungarian counties, as well as a portfolio of women's and gastronomical magazines, and digital media products.
PLT and Mediaworks together have annual revenues of nearly HUF 25 billion (approximately EUR 81 million) and approximately 1150 employees.
The DLA Piper Horvath & Partners team on this transaction consisted of Managing Partner Andras Posztl, Partner Gabor Borbely, and Counsel Istvan Szatmary.
The GSV Legal team consisted of Partner Bernd Grama and Attorney Georg Zacherl.
Schoenherr's team consisted of Vienna Partner Markus Piuk, Budapest Managing Partner Kinga Hetenyi, Vienna Attorney Manuel Ritt-Huemer, Budapest Attorney Gabor Kordovanyi, and Budapest Associate Roland Szebenyi. Vienna Partner Christoph Haid and Budapest Associate Andras Nagy advised on competition questions.