Czech Media Invest, one of the biggest media groups in Czech Republic, is the new owner of Romanian radio stations Europa FM and Virgin Radio.

The Czech group bought French group Lagardere’s radio business in Romania, Czech Republic, Poland and Slovakia, according to an announcement on the Europa FM website.

The deal is first of a series of asset sales Lagardere Active has in plan as part of its strategic restructuring process.

Czech Media Invest paid EUR 73 million for all the acquired radio stations, which had consolidated revenues of EUR 56 million in 2017. The group thus aims to consolidate its media business.

Czech Media Invest owns four newspapers, several magazines and online publications in the Czech Republic. The group’s owners are Patrik Tkáč şi Daniel Křetínský. Křetínský owns an energy business as well as the Sparta Prague football club.

editor@romania-insider.com