SPORTTOTAL AG
_wige MEDIA AG builds up new sporttotal.tv business, along with its international project business, and sells _wige BROADCAST and _wige SOLUTIONS
DGAP-News: _wige MEDIA AG / Key word(s): Strategic Company Decision/Disposal _wige MEDIA AG builds up new sporttotal.tv business, along with its international project business, and sells _wige BROADCAST and _wige SOLUTIONS – _wige MEDIA AG receives cash inflow of EUR 1.6 million – Burden on broadcasting eased by an average EUR 0.6 million from 2017 onward – _wige releases capital in order to invest in high-margin growth Cologne, December 8, 2016. 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. Through a partnership with the German Football Association (DFB), the company intends to equip German amateur football clubs with special video technology that enables games to be transmitted live in a high quality and fully automatically using the new “sporttotal.tv” platform. The company will therefore sell the loss-making business with TV production for domestic and international broadcasters, associations and organisers, as well as the low-margin and capital-intensive media technology business. Today _wige MEDIA AG signed the respective agreements. Under these agreements – and as soon as the conditions precedent customary in the market have been fulfilled – _wige BROADCAST gmbh (TV production) will be sold to Wolfgang Reeh and the assets of _wige SOLUTIONS gmbh (media technology) to wige SOLUTIONS GmbH & Co. KG, a company newly founded by Thomas Riedel together with a partner. Broadcast and media technology concentrated with top providers in the market Group restructuring: non-cash earnings effect About _wige GROUP Investor Relations:
2016-12-08 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG. |
Language: | English | |
Company: | _wige MEDIA AG | |
Am Coloneum 2 | ||
50829 Köln | ||
Germany | ||
Phone: | +49 (0)221 7 88 77 0 | |
Fax: | +49 (0)221 7 88 77 199 | |
E-mail: | info@wige.de | |
Internet: | www.wige.de | |
ISIN: | DE000A1EMG56 | |
WKN: | A1EMG5 | |
Listed: | Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Stuttgart, Tradegate Exchange | |
End of News | DGAP News Service |