German media service provider Wige Media has become a shareholder in Sport Media Group, operator of web portals www.motorsport-total.com and www.formel1.de.
In the deal of which financial details have not been disclosed, the Cologne-based company takes over a 16.7% stake from main shareholder B&M Marketing and secures the option to purchase a total of up to 85%.
B&M Marketing will remain the main shareholder with 68.3% for the time being.
Sport Media Group whose sports portals reach a total of more than 1.2 million unique users per month is licence holder and partner of race series like Formula One, DTM, NASCAR, FIA European Rally Championship and FIA World Touring Car Championship.
