Diena media group sells several companies

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Diena media group has sold several of its companies, including Dienas Bizness, the publisher of the eponymous business daily, Diena representatives told BNS Tuesday. The first details about some of the deals have emerged on Thursday.

The companies sold by the media group include Dienas Mediji, Izdevnieciba Dienas Zurnali, Izdevnieciba Dienas Bizness and RDP.

"Rigas Tirdzniecibas Osta, the owner of Diena, does not envisage publishing business in its future strategy and has therefore decided to split up and sell off the media group," the company said in a statement, adding that a preliminary agreement has been reached with the companies' buyers and that the deals are close to completion.

It has now emerged that the magazine publisher Izdevnieciba Dienas Zurnali and the business daily Dienas Bizness have been sold to Jānis Maršāns and Jānis Svārpstons, long-standing board members of the Diena media group. The two companies were bought by the SM Investīcijas firm, co-owned by Maršāns and Svārpstons.

Maršāns will be leading the Dienas Bizness daily. Izdevnieciba Dienas Zurnali will be headed by Maršāns and Inga Gorbunova.

Later in the day, it was announced that the Dienas Mediji publisher, which owns the Diena daily, the KDi cultural publication and the Sestdiena magazine, has been sold to Edgars Kots, the chairman of the Management Board of Diena.  

He said he had bought Dienas Mediji with his own money but the amount of the transaction was confidential. Kols also said that the change of owners would not affect the newspaper’s daily operations. Gatis Madzins, editor-in-chief of Diena and Dienas Mediji, will continue to hold his office.

Dienas Bizness publishing house, established in 1993, has a share capital of 17,800 euros. Diena was its sole owner until now, according to information available in Lursoft business database. Dienas Bizness reported 1.342 million euros in turnover and a 161,400 loss for 2014.

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