Finnish-owned publishing giant Sanoma will not buy Hungarian news portal Index.hu. According to our information the negotiations flopped in an advanced stage as the buyer and the seller failed to co-ordinate their ideas.
Market players estimated the transaction at over HUF 1 billion. Index.hu has been owned by its CEO György Mucsi and commercial radio channel Danubius' former CEO István Sándor.
Sanoma is a dominant player on Hungary's media market with HUF 17 billion annual revenue from 29 print and 29 online media.
Source: Portfolio online financial journal
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21.12.2004