Wyatt Media Group (3306I)
June 13 2011 - 7:32AM
UK Regulatory
TIDMCLI
RNS Number : 3306I
CLS Holdings PLC
13 June 2011
CLS Holdings plc
("CLS", the "Company" or the "Group")
Wyatt Media Group and Nyheter 24 Group join forces
CLS announces that its former wholly owned subsidiary, Wyatt
Media Group ("Wyatt"), has joined forces with Nyheter 24 Group
("News24"), a successful Swedish on-line news media company. CLS
now holds a 20 per cent shareholding in the new combined group
News24 and a five year SEK 10 million convertible loan note which
can be converted into a further 10 per cent share or cash at the
election of CLS.
Douglas Roos, Executive Chairman and Co-Founder of Nyheter 24,
comments:
"The numbers of unique visitors to the Wyatt sites are at record
levels! There are now evident synergies and no advertiser can
ignore us in order to reach the target audience of 15-39 year
olds."
Sten Mortstedt, Executive Chairman of CLS, comments:
"We are delighted to have completed this transaction, which
creates Sweden's biggest digital media house. The target audience
is 15-39 year olds and the sites currently have close to 4.5
million unique visitors per week. The media house will be further
developed and will be led by a very successful and experienced
management team."
-ends-
For further information please contact:
CLS Holdings plc +44 (0)20 7582 7766
www.clsholdings.com
Sten Mortstedt, Executive Chairman
Henry Klotz, Executive Vice Chairman
Richard Tice, Chief Executive Officer
News 24
http://nyheter24gruppen.se
Patrik Sandberg, Managing Director & Co-Founder +46 (0)70
262 80 47
Douglas Roos, Executive Chairman & Co-Founder +46 (0)70 735
21 25
This information is provided by RNS
The company news service from the London Stock Exchange
END
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