TMG initiates sale process for Keesing
Telegraaf Media Groep (“TMG”) confirms that the Executive Board and the Supervisory Board have decided to initiate the process to sell Keesing Media Groep (“Keesing”). The last couple of years, Keesing has experienced strong growth within Telegraaf Media Groep both in terms of sales and profitability. According to the judgement of the Executive Board and the Supervisory Board, a potential sale of Keesing will better enable the company to develop its international growth further.
TMG aims to complete the process before the end of this year and considers to hold on to a minority stake in Keesing.
A potential decision to sell Keesing will be submitted for approval to the shareholders of TMG. An extraordinary meeting of shareholders will be convened for this in due time, taking into account the legal term for convocation.
TMG has mandated ING to manage the sale process.
About Telegraaf Media Groep
TMG is one of the largest media companies in the Netherlands, with strong brands such as De Telegraaf, DFT, Telesport, Metro, Autovisie, Privé and VROUW; online videoplatform Telegraaf VNDG; regional dailies such as Noordhollands Dagblad and De Gooi- en Eemlander; digital brands such as GeenStijl, Dumpert and Gaspedaal; Classic FM and – through a strategic collaboration with Talpa – national radio stations Sky Radio, Radio Veronica, Radio 538 and Radio 10. TMG also has other brands and titles that focus on providing entertainment or e-commerce (e.g., GroupDeal). Through Keesing Media Group, TMG is market leader in Europe in the field of puzzle magazines and digital puzzles. TMG’s mission is to provide consumers with high- quality, personalised and relevant news, sports and entertainment 24 hours a day, 7 days a week, via all available forms of distribution. For more information about TMG, please go to www.tmg.nl.