All3Media buys SOUTH&BROWSE. _wige MEDIA AG expects to receive funds of € 700,000 from the sale and record a book profit of € 600,000.
AD-HOC: All3Media buys SOUTH&BROWSE
Disclosure of insider information pursuant to Article 17 MAR
Cologne, 28 July 2017.
_wige MEDIA AG today signed an agreement for the sale of its subsidiary _wige SOUTH&BROWSE gmbh based in Munich to All3Media Deutschland GmbH. The completion of the transaction is still subject to approval, in particular by the anti-trust authority. Proceeds of around € 1.1 million (preliminary purchase price) are likely to be generated from the sale. _wige MEDIA AG expects to receive funds of € 700,000 from the sale and record a book profit of € 600,000. Following the company’s strategic realignment, the area of factual entertainment is no longer part of its core business. _wige MEDIA AG intends to grow in future in the scalable digital business, in the high-margin international project business, as well as in business with live events. Completion of the transaction has been planned for the second half of 2017.