RTL Hungary has acquired a 30% stake in Central Digital Media (CDM), the online portfolio of Central Médiacsoport, for an undisclosed fee.
According to BBJ, the deal was announced by the two parties at a conference in Siofok, by Lake Balaton, but still requires the approval of the Hungarian Competition Authority (GVH).
CDM is one of the top three online media companies in Hungary and its assets include a number of websites and mobile applications.
Meanwhile, RTL Hungary, which is the country’s leading broadcaster, is keen to increase its presence in the digital market.
To that effect, it created its Digital and Development Directorate in 2015 and buying into CDM is the next step in the process.