Motorsport Network, LLC will be the new owner of sports media group GmbH. For _wige MEDIA AG (in future: SPORTTOTAL AG) that generates proceeds of € 2.448 million from the disposal and a book profit of around € 600,000.
AD-HOC: _wige MEDIA AG sells participating interest in the sport media group to Motorsport Network
Disclosure of insider information pursuant to Article 17 MAR
Cologne, 31 July 2017.
_wige MEDIA AG (in future: SPORTTOTAL AG) today signed agreements on the sale of its 51% stake in the Munich-based sport media group GmbH to Motorsport Network, LLC, Miami (Florida). _wige MEDIA AG generates proceeds of € 2.448 million from the disposal and a book profit of around € 600,000. With Motorsport-Total.com and Formel1.de, the sport media group is the market leader for motorsport portals in Germany, Austria and Switzerland. In selling sport media group GmbH, _wige MEDIA AG continues to concentrate on the rapidly scalable digital business with sporttotal.tv, venues (infrastructure projects for sports facilities) and live (selling of rights, live events, events and content marketing).