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SKOPJE (Macedonia), January 11 (SeeNews) – Germany's WAZ Media Group has sold its three newspapers in Macedonia to Skopje-based Orka Holding, WAZ's Macedonian unit said.
The value of the deal was not disclosed.
WAZ Media Group is present on the Macedonian market since May 2003 through its local subsidiary Media Print Macedonia (MPM), owning majority stakes in Dnevnik, Utrinski Vesnik and Vest.
The deal is part of WAZ’s corporate strategy announced in August 2010, MPM said in a statement made available to SeeNews on Wednesday.
“WAZ hired a bank a year ago to implement the sale deal for MPM. This way it negotiated and signed the contract with Orka Holding,” the statement said.