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J&T rejected information about buying Slovakia’s largest publishing house

THE LARGEST Slovak publishing house Ringier Axel Springer Slovakia is to be sold, with the new owner set to become financial group J&T, the internet website of Hospodárske Noviny daily www.strategie.hnonline.sk reported on October 20.

THE LARGEST Slovak publishing house Ringier Axel Springer Slovakia is to be sold, with the new owner set to become financial group J&T, the internet website of Hospodárske Noviny daily www.strategie.hnonline.sk reported on October 20.

According to the website, J&T is purchasing the publishing house via its partners, and the deal is slated to be signed soon. The website wrote that J&T first expressed interest in Ringier Axel Springer in early September. The site later updated the story with statements from both the financial group and Ringier Axel Springer in which they denied the information, according to the TASR newswire.

“We weren’t even contacted before the story was published,” Jarošová told TASR.

Axel Springer is the largest publishing house in Slovakia, with revenues of €30 million and a profit after taxes of €4.3 million in 2013. The house publishes the most popular Slovak tabloid daily, Nový Čas, as well as Nový Čas Pre Ženy weekly, Život, Nový Čas Nedeľa, Nový Čas Krížovky, Eva and other magazines. It also owns online group Azet, which runs the popular Slovak social networking site of the same name.

Ringier Axel Springer Slovakia forms part of media group Ringier Axel Springer Media AG, which is in the hands of a German-Swiss owner. In 2013, the group sold its Czech branch - Ringier Axel Springer CZ - for €170 million to J&T financiers Daniel Křetínský and Patrik Tkáč, according to TASR.

(Source: www.strategie.hnonline.sk, TASR)

Compiled by Roman Cuprik from press reports
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