New York, June 6, 2016: Media Development Investment Fund (MDIF), a specialized US-based investment fund with a global portfolio of media investments, today announced that it has acquired 5,350,000 shares, representing 11.22% of share capital or 8.26% of voting shares, in leading Polish media company Agora SA.
MDIF invests in leading media businesses around the world and has been active across Central and Eastern Europe for more than two decades. It seeks to invest in media properties with growth potential, built around high-quality news and information outlets.
“At its current price Agora is an excellent investment, presenting a unique opportunity to bring one of Europe’s premier media groups into our portfolio,” said MDIF CEO Harlan Mandel. “A diversified media company, Agora’s news and information properties are among Poland’s most important – serving their audiences across print, digital, radio and TV – and its cinema and outdoor divisions are market leaders as well. As with all our investments, we take a long-term view and by taking a substantial position in Agora, we believe we can add value with our global perspective on the fast-changing media industry. We see significant scope for growth in the Polish media market and Agora is well placed to take advantage of it over the long term.”
Agora SA is one of Poland’s largest media companies whose media offer includes newspapers, online and radio operations, TV, magazines, outdoor advertising and a network of cinemas. Its major business lines include: Gazeta Wyborcza, Poland’s largest quality print and digital daily; a collection of major online brands and portals; a stable of online and print lifestyle magazines; numerous radio stations; Helios S.A., the country’s largest cinema operator; and AMS, a leading outdoor advertising company.
Over its 20-year history, MDIF has invested in leading media companies across Central and Eastern Europe, including Slovakia’s Petit Press, Serbia’s B92, Ukraine’s Express, and Croatia’s Novi list. Global investments include a diverse spread of media properties such as South Africa’s Mail & Guardian, Malaysia’s Malaysiakini, India’s Scroll, Brazil’s Colab.re, Los Tiempos in Bolivia, and Mic in the U.S.
About Media Development Investment Fund
A New York corporation with principal offices in New York and Prague, MDIF provides equity and debt financing to news and information companies around the world. Since its founding in 1995, MDIF has invested in more than 100 media companies in nearly 40 countries.
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