Poland’s leading media group (with Gazeta Wyborcza newspaper, radio assets, and cinemas) has started a so-called “strategic review” of options for its business. First step: combining its Internet division with its Press division.
As it turns out, on June 8 “with a view to the effective implementation of Agora’s strategic goal related to the development of the subscription model and an increase in revenues from advertising sales”, the management of Agora 8 began the so-called review of strategic options for Internet operations.
It was decided to keep this information secret. Today it was declassified because – as the company led by Bartosz Hojka explains – the first decision was made.
“Agora’s Management Board intends to maximize the chances of using the potential of the Company’s websites to accelerate the increase in the number of Wyborcza.pl digital subscriptions and increase revenues from the sale of advertising services. To this end, it intends to combine the Gazeta.pl division and the Press segment in Agora, “Agora announces. The merger is to be completed by the end of the year.
Internet division in the first quarter of this year. had approximately PLN 47 million in revenue (down 1.1% year on year) and PLN 6.7 million in operating profit plus depreciation (up 59.5%). It included not only Gazeta.pl, but also companies such as Yieldbird, the HRLink group with the Goldenline website and the Plan D company (formerly Domiporta – the group limited its activities).
Agora’s Management Board is now considering what to do with these assets. The decision will depend “on the” advertising potential of the group’s online assets. “Reviewing the options may take several steps