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Motorsport Network, LLC will be the new owner of smg. The Proceeds from the disposal: € 2.448 million leading to book profit of approximately € 600,000.

CN: Motorsport Network, LLC kauft _wige Anteile von smg

Köln, 31. Juli 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 and, sport media group GmbH is the market leader for motorsport portals in Germany, Austria and Switzerland. The portals developed very well under _wige MEDIA AG’s management and extended their coverage by around 40% in 2017: and, for instance, have meanwhile achieved some 22 million and 20 million page impressions a month respectively. In selling sport media group GmbH, _wige MEDIA AG continues to concentrate on the rapidly scalable digital business with, venues (infrastructure projects for sports facilities) and live (selling of rights, live events, events and content marketing).