National Media Group announces the completion of transaction to acquire a 25% stake in Sport Express JSC, a founder of Sport Express, one of the largest sports newspapers in Russia.
Integration of Sport Express into the media holding company will afford an opportunity to attract additional resources for development of this media outlet, and will promote strengthening of its positions in the sports media market. The transaction will also allow National Media Group to support its strategy to expand the current portfolio of media assets through acquiring leading companies in the trade and specialist media segment. Terms of the transactions are not disclosed.
The position of Chair of the Board of Directors of Sport Express JSC will be taken up by Alina Kabaeva, who has also been the head of the Board of Directors of National Media Group since 2014.
The Sport Express newspaper was founded in 1991. It is distributed in more than 309 cities and towns of Russia and near-abroad countries. The Sport Express circulation is 220,000, while the readership of one issue is over 486,000.