Hi-Media, the integrated online media group (ISIN Code FR0000075988 - HIM, HIM.PA), announced today a series of website acquisitions and new site launches across Europe that further strengthen its key entertainment vertical and global presence.
Expands Entertainment Vertical Via Key Acquisition in French Music Segment
Hi-Media announced the strategic acquisition of Bonne Nouvelle Editions, publisher of Magicrpm.com, which has been setting the standard in the French online rock and independent electronic music content segment for over 10 years. Hi-Media acquired Magic for a consideration of 1 euro with an earn-out which will be based on the company’s profitability in 2009.
With the Magic acquisition, Hi-Media strengthens its position as a publisher of entertainment content, adding an attractive asset to a key vertical which currently includes:
- Video game content with www.jeuxvideo.com
- Cinema content with www.toutlecine.com
- Television content with www.monprogramme-tv.com
- Social networking with www.fotolog.com and blogorama.com
Cyril Zimmermann, CEO of Hi-Media, said: “We see this acquisition as strategic. Promising audience growth at the new magicrpm.com site launched at the beginning of this year provides an attractive platform for entering the online music segment. And the Magic teams’ publishing skills will be an asset for all our publishing activities.”
Hi-Media Publishing Expands Internationally Across Europe
Hi-Media Publishing also announced continued international expansion via new website launches and acquisitions in Belgium, Germany and Spain:
• Entertainment: By launching television content sites www.monprogramme-tv.be and www.das-tv-programm.de, Hi-Media has expanded its presence in Belgium and Germany where the group currently offers local versions of www.blogorama.com and www.fotolog.com.
• News: Hi-Media Belgium has acquired a 35% stake in Vivat.be, a news site focusing on well being and quality of life, for 40,000 euros. The stake will add to the Group’s portfolio of websites operated by Hi-Media Belgium which currently serve an audience of 500,000 unique monthly users.
• Women’s: Hi-Media has purchased www.mujeractual.com for 40,000 euros. A pioneer among websites providing content for women in Spain, www.mujeractual.com will be incorporated into Hi-Media Spain with a new editorial team and distribution to the Fotolog community of 4 million unique monthly users (Comscore, June 2008).
Hi-Media’s announcement of acquisitions and website launches reflect a continued commitment to the Group’s publishing strategy. In this context, Hi-Media is focusing on organic growth by leveraging its expertise in new website development and small, targeted acquisitions in the three verticals in which the Group is already a leader. The key to assessing potential acquisitions is whether they complement Hi-Media’s financial criteria of maintaining profitability and executing transactions that can be financed without capital increases.
Hi-Media Group will publish first half results for 2008 on August 28, 2007 after the stock market closes. |
