increase <strong>of</strong> 4.0 percent compared with the figure for 2004, and earnings per share <strong>of</strong> 1.0 euro.AFP; March 8, 2006* * * * *Many shareholders in the Dutch market research and publishing group VNU oppose itstakeover by a group <strong>of</strong> private investors and could block the deal, the Financial Timesreported. The British financial daily said as many <strong>of</strong> 50 percent <strong>of</strong> shareholders hadtold management in preliminary discussions they opposed a takeover on the terms <strong>of</strong> 28.50euros per share. The newspaper quoted Fidelity International, which owns 15 percent <strong>of</strong>VNU, as saying it was "unlikely to support this <strong>of</strong>fer." A second important shareholder,Knight Vinke Asset Management, which controls about two percent <strong>of</strong> VNU, has rejected the<strong>of</strong>fer which "substantially undervalues the company," said the Financial Times. AFP, March9, 2006The NetherlandsMECOM, the investment vehicle <strong>of</strong> the former Mirror Group chief executive DavidMontgomery, tabled a bid for a Dutch regional newspaper on Friday. The newspaper,Limburgs Dagblad, which is believed to be valued at up to €140 million (£96 million), is one<strong>of</strong> the core titles <strong>of</strong> Telegraaf Media Groep, publisher <strong>of</strong> the leading Netherlands newspaperDe Telegraaf. The sale is being handled by ING. Montgomery is also involved in an auctionfor the Rhones-Alpes division <strong>of</strong> the French regional publisher Socpresse, owned by Dassaultmedia group. The sale could be worth up to €350 million.Socpresse and Dassault met yesterday to discuss entering exclusive talks with one party.Mr Montgomery acquired a second German newspaper last month when Mecom paid anundisclosed sum to buy Hamburger Morgenpost from its owners Hans Barlach and JosefDepenbrock. http://business.timesonline.co.uk/article/0,,9071-2019242,00.html; February 1,2006RussiaRussia's state-owned natural gas giant Gazprom is considering purchasing the influentialliberal newspaper Kommersant, a Moscow business daily reported. Negotiations between asubsidiary <strong>of</strong> Gazprom, which has already built up a wide-ranging media empire, "havealready begun" with Kommersant's owner, Georgian tycoon Badri Patarkatsishvili, theVedomosti newspaper said, quoting sources close both to Gazprom and Patarkatsishvili.If confirmed, the deal would extend Kremlin influence over one <strong>of</strong> the last major mediaoutlets in Russia not already owned by Gazprom or the state ahead <strong>of</strong> parliamentary electionsin 2007 and a presidential election in 2008, when President Vladimir Putin is due to stepdown. Patarkatsishvili, an associate <strong>of</strong> fugitive Russian businessman and fierce Putinopponent Boris Berezovsky, is himself wanted by Russian investigators and is conductingnegotiations through an intermediary, Vedomosti said. Vedomosti said that Patarkatsishviliwanted 350 million dollars for the newspaper. Gazprom-media already owns the NTVtelevision channel, a controlling stake in Echo Moscow radio and also the nation's mostestablished daily newspaper, Izvestia. Echo Moscow and Izvestia still retain a degree <strong>of</strong>editorial independence, but have limited impact, while NTV's coverage <strong>of</strong> controversial issuesdiffers little from that <strong>of</strong> fully state-owned, pro-Putin national channels. Russia's oppositionmedia is otherwise reduced to a handful <strong>of</strong> small-circulation Moscow dailies and internet siteslike Gazeta.ru. AFP; April 4, 200670
* * * * *Russia's state-run energy giant Gazprom is set to strengthen its grip on the country's mediawith the likely purchase <strong>of</strong> control <strong>of</strong> the country's largest circulation newspaper,Komsomolskaya Pravda, the business daily Vedomosti said. Pr<strong>of</strong>-Media, a subsidiary <strong>of</strong> theInterros company owned by businessman Vladimir Potanin, has negotiated the sale <strong>of</strong> justover 50 percent <strong>of</strong> the populist tabloid's publishing house, said Vedomosti, citing an unnamedsource familiar with the deal. The two sides are now awaiting the go-ahead <strong>of</strong> the federal antimonopolyservice, the paper said. An <strong>of</strong>ficial at Gazprom's press service declined to confirmor deny the report when contacted by AFP. The <strong>of</strong>ficial said Gazprom was "always in talkswith all the important media players and everything depends on the terms <strong>of</strong> sale <strong>of</strong>fered bythe sellers". Pr<strong>of</strong>-Media owns 50 percent <strong>of</strong> Komsomolskaya Pravda and another 25 percentis owned by Norway's A-Pressen. Gazprom's swallowing <strong>of</strong> several media outlets in recentyears has fuelled criticism that the state is using the company to increase its control overthe media. The company owns one <strong>of</strong> the three main television channels, NTV, and hasmajority stakes in the Echo Moscow radio station and the daily newspaper Izvestia. Potaninannounced earlier that Interros wanted to reduce its share in the daily newspaper market anddiversify into other areas <strong>of</strong> the media. According to the research institute TNS Gallup Media,Komsomolskaya Pravda's average daily circulation is four million copies and the total number<strong>of</strong> people who read the paper each day is 10 million. AFP; April 20, 2006Sell-Off / Buy-OutCroatiaThe largest Croatian newspaper publisher Europapress holding (EPH) will sell its 27 percentstake in Tisak, confirmed EPH Director Stipe Oreskovic, by the end <strong>of</strong> May, 'CT' reports. Thefinal competition for this stake attracted the interest <strong>of</strong> Slovenia's largest distributor Deloprodaja, multinational company Hachette from France and an unnamed Croatian distributioncompany. "We have several quality participants in this race, they all performed a duediligence, saying they were satisfied and we are now waiting who will give us the best <strong>of</strong>fer,"said Oreskovic. The sale <strong>of</strong> the stake in Tisak was conditioned by Croatian Agency forProtection <strong>of</strong> the Market Competition if EPH wants to complete the takeover <strong>of</strong> thenewspaper Slobodna Dalmacija, as EPH acquired excessive newspaper distribution marketshare <strong>of</strong> 87 percent after this venture. Well-informed sources said that EPH has already signeda deal on the sale <strong>of</strong> Tisak to Slovenia's Delo prodaja, which Oreskovic refused to comment.Until recently one <strong>of</strong> potential bidders for a stake in Tisak also included Slovenia's publisherDZS, which was denied by Oreskovic, who said that future buyer <strong>of</strong> Tisak would have to bein a distribution business. He was formally right, as the possible future buyer <strong>of</strong> Tisak is notDZS, but Delo prodaja, but this distributor is strongly tied on ownership relations with DZS.Also recently, one <strong>of</strong> the owners <strong>of</strong> DZS also became WAZ, media concern and co-owner <strong>of</strong>EPH, which means that entering <strong>of</strong> Slovenia's Delo prodaja in Tisak would represent yetanother ownership connection in a series <strong>of</strong> ownership mergers between Croatia's andSlovenia's media and marketing companies. The position <strong>of</strong> Delo prodaja in Slovenia isequally strong as the position <strong>of</strong> Tisak in Croatia, and both distributors are significantlystronger than all competitors combined. Delo prodaja monthly sells in Slovenia through itsown retail network (146 retail outlets) and other networks more than 10 million copies <strong>of</strong>newspapers and magazines. Delo prodaja is not in ownership relations with the newspaperDelo, as it was separated from this company back in 1990.http://www.reporter.gr/fulltext_eng.cfm?id=60516124220; 16 May 200671
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