Northcliffe expands online in central Europe

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Wednesday 14 March 2007

Northcliffe Media, the regional publishing division of DMGT, announces that A&N International Media, its central European media division, has recently made two acquisitions in Croatia and Slovakia for a total consideration not exceeding £5 million.

This is part of its continuing strategy of building print and digital advertising platforms focused on jobs, property and motors. 60% of the leading recruitment website in Croatia (mojposao.hr) has been acquired. This has 85% of that country's online jobs market.

The business, which is based in Zagreb, will continue to be run by its founding shareholder who will retain a 40% shareholding. Northcliffe has an option to purchase this shareholding over the next three years.

The acquisition of Autovia.sk the leading Slovakian motors website strengthens the media position of Northcliffe in Slovakia following the recent acquisition of Pravda, the country's leading quality national newspaper title and Profesia, the leading recruitment website in the country.

Both acquisitions are expected to be earnings enhancing before amortisation in DMGT's current financial year. To date Northcliffe has invested almost £12 million on digital assets in Hungary, Slovakia and Croatia which generate revenues of £3 million and operating profits of £ 1.5 million. It now has market leading sites in the key classified channels of jobs, property and motors.

These businesses are managed via the A&N International Media management team, who are based in Gyor in North West Hungary.

Enquiries:
Peter Williams
Finance Director, DMGT: 020 7938 6631

Martyn Hindley
Finance Director, Northcliffe: 020 7400 1457

Andrew Honnor
Tulchan Communications: 020 7353 4200