AS Ekspress Grupp to acquire operations of news agency ELTA in Lithuania
May 31 2022 - 4:31AM
AS Ekspress Grupp to acquire operations of news agency ELTA in
Lithuania
On 31 May 2022, UAB Delfi, 100% subsidiary of AS
Ekspress Grupp, entered into the contract for the acquisition of
the business activities of the news agency ELTA in Lithuania.
ELTA is a Lithuanian news agency founded more
than a hundred years ago. ELTA is a reliable source of information
about the Lithuanian and international news. News agency which
collaborates and summarizes politics, business, sports and culture
news in Lithuanian, English and Russian. Every day ELTA prepares
over 600 information and photo information about the most important
events in Lithuania and the world.
The acquisition of operations of news agency
ELTA is an organic step in our strategy. The main goal of this deal
is to strengthen and modernize a news agency with a hundred-year
experience so that it becomes a modern, competitive, and objective
source of journalism for the Lithuanian media and foreign
channels.
The shared goal of Delfi and ELTA is to
continue offering attractive content for the readers of ELTA.
ELTA has 24 employees and more than 200 clients.
ELTA will continue to cover political, business and cultural news,
as well as develop the country's largest photo archive. New
investments are planned which will allow offering new modernized
forms of content to the market.
The parties have agreed neither to disclose the
price nor any other terms of the transaction. The transaction is
scheduled to be completed in the 3rd quarter 2022.
Mari-Liis Rüütsalu Chairman of the Management Board +372 512
2591 mariliis.ryytsalu@egrupp.ee
AS Ekspress Grupp is the leading media group in
the Baltic States whose key activities include web media content
production, publishing of newspaper, magazines and books. The Group
also manages the electronic ticket sales platform and ticket sales
sites in Latvia and Estonia. Ekspress Grupp that launched its
operations in 1989 employs 1,400 people, owns leading web media
portals in the Baltic States and publishes the most popular daily
and weekly newspapers as well as the majority of the most popular
magazines in Estonia.
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