Medien Holding SRL, the joint venture formed by Westdeutsche Allgemeine Zeitung and Romanian Nova Group, which holds a majority stake in Societatea R, publisher of reputed Romanian newspaper Romania libera, has reached a deal with the associates in Domus Magazin to buy all their participations in the publishing house. Domus Magazin, which last year was the target of a failed takeover attempt by Dutch group De Telegraaf, publishes several home&deco magazines such as Domus, Caminul, Casa mea and Art&Style.
The value of the transaction is confidential, according to a press release issued by Medien Holding representatives. The deal was sealed in the presence of Alexander Bogdan Adamescu, member of the Medien Holding board, Domus shareholders Catalin Berari, Adrian Rus, Cristian Jansen Buta, Radu Gavrus and Dan Sabau and their lawyers.
According to the press release, Domus will remain a separate business identity with its own management but will seek to use "all possible synergies" with Societatea R - which is one of the very few Romanian publishers which was limiting its media activities to only one newspaper, Romania libera, in a continuously consolidating Romanian market.