All3Media buys SOUTH&BROWSE and will be the new owner. _wige MEDIA AG expects to receive funds of € 700,000 from the sale and record a book profit of € 600,000.
CN: All3Media kauft _wige SOUTH&BROWSE gmbh
Cologne, 28 July 2017.
_wige MEDIA AG is to sell Munich-based _wige SOUTH&BROWSE gmbh to All3Media, a subsidiary of Liberty Global and Discovery Communications. The parties have reached an agreement today. The transaction is still subject to approval, in particular by the anti-trust authority. Completion of the transaction has been planned for the second half of 2017. _wige MEDIA AG will receive estimated net proceeds of € 700,000 from the sale and record a book profit of € 600,000. With Senior Vice President Tom Gamlich and around 30 employees, _wige SOUTH&BROWSE stands for TV entertainment formats, magazines, documentations and factual entertainment such as “Galileo” or “TerraX”.
“We are delighted to have found a new owner for South&Browse who can bring the company forward to a new level of growth by contributing their core competences,”
says Peter Lauterbach, CEO der _wige MEDIA AG.
In the future, _wige MEDIA AG intends to grow in the scalable digital business, in the high-margin international project business, as well as in business with live events. In partnership with the German Football Association (DFB), the company equips German amateur football clubs with special video technology which enables games to be transmitted live in a high quality and fully automatically via the new “sporttotal.tv” platform.