The integrated Internet media group Hi-Media (ISIN code FR0000075988 - HIM, HIM.PA) announces a sales agreement and acquisition of an interest in the Internet site www.rue89.com, strengthening its sales offerings in France in the news/sports field.
Hi-Media's advertising network recently signed a commercial deal with the news website www.rue89.com increasing thus its offerings on the news/sports vertical, which already account for several million unique users. One year after its launch, www.rue89.com recorded an audience of 636 000 unique users per month and traffic amounting to 7.8 million pages views per month (source: Nielsen Net Rating and Adtech).
Along with this advertising network agreement, Hi-Media Group took part to the extent of 300,000 euros in the capital increase put through by the publishing company of www.rue89.com, thus holding a 7.5% stake following that deal.
Cyril Zimmermann, CEO of Hi-Media, says that « Rue89 pulled off a real exploit by becoming a reference in the on-line daily news segment and by reaching a considerable audience in barely a year. The talent displayed by the teams and the site's position delighted us as an advertising network. Moreover, Rue89 is positioned in a vertical on which we want to increase our footprint. We've also decided to take part in financing the site, as we have been convinced by the business model. The resources brought in by that capital increase should enable the site to grow even more rapidly, and Hi-Media is enthusiastic about being able to accompany the development of this project. »
The company will release its quarterly sales figures on 22 July 2008.
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