Central European Media Enterprises (CME) has acquired Jyxo, the Czech IT company and operator of the country’s leading blog site, along with Jyxo’s affiliate BLOG Internet.
According to the US investment company, it will pay between CZK163-200 million (€6.5-8.0 million) for the assets, depending on the achievement of certain operational objective two years after the acquisition.
Jyxo and BLOG Internet, which have until now been owned by Michal Illich and Centralway Investment, posted combined revenues of CZK17.9 million and a profit of CZK11.1 million in 2007.
CME has a presence in the TV markets of six CEE countries in CEE including the Czech Republic and is gradually building up its presence in the internet sector.
