LRF Media acquires TMG’s Swedish activities
LRF Media, the third largest magazine publisher on the Swedish market, today acquired the assets of Telegraaf Media Groep N.V. (TMG) in Sweden.
LRF Media will take over the titles Cosmopolitan, Residence, Båtnytt, Vi Båtagare, Segling and Allt om Kök och Bad plus the web portal Maringuiden.se. Golf Digest is for the time being excluded from the transaction since a new license agreement is still under negotiation with Condé Nast, USA.
TMG Sweden employs 70 FTE. The transaction will not have any direct consequences for them.
Ad Swartjes, CEO of TMG: 'TMG holds a number of well managed and strong brands in the Swedish magazine and Internet market. We have, however, come to the conclusion that we can not grow our business to the scale needed in the mature media market in Sweden. We are very happy about the transaction with LRF Media, because we believe they are in a position to do that. Our Swedish brands as well as our staff will therefore be in great hands and have a bright future ahead.‘
Håkan Fredlund, CEO of LRF Media comments: “'We are delighted to have agreed to acquire these quality assets from TMG. The Swedish titles are strong brands and leading in each of their segments. We look forward to further develop the portfolio and titles, ensuring a continued attractiveness for both its readers as well as its advertisers.”