THE PUBLISHING group Media Group Rheinische Post (RP Media Group) – owner of the Czech dailies Mladá Fronta DNES and Lidové Noviny – has become a major shareholder in the Petit Press publishing house which publishes The Slovak Spectator, the Sme daily, regional newspapers, weekly newspapers, a internet news provider and other media products in Slovakia.
RP Media Group was established in 1946 by Karl Arnold. It currently owns Rheinische Post, one of the five most-read daily newspapers in Germany.
Petit Press stated that the German publisher will own 50 percent of its shares once the purchase is approved by the Slovak Antitrust Office. RP Media Group bought the shares from another German group VGP, which is withdrawing from the Slovak market after 10 years to focus more on the Czech and Polish markets.
The second shareholder, Prvá Slovenská Investičná Skupina, retains its stake in Petit Press.
RP Media Group also owns the media group MAFRA in the Czech Republic which publishes the Mladá Fronta DNES daily and others.
"The leading position of Mladá Fronta DNES in the Czech Republic and Sme in Slovakia, among the broadsheet press, opens new opportunities for cooperation to both titles, which should bring significant effects, especially for our readers," Alexej Fulmek, chairman of Petit Press, said.