15min Group is set to acquire M-1 Radio Station Group

Media and digital business cluster 15min Group signed a deal to buy the M-1 radio station group.

Before 15 Group can proceed with the purchase, the Lithuanian Radio and Television Commission (LRTK) and the Government Commission overseeing strategic transactions must approve the deal. If permission is granted, 15min Group will obtain 100% of the shares in M-1, Ultra Vires, Radijo stotis Laluna, and Reklamos ekspertai. These companies manage M-1, M-1 Plius, Lietus, Laluna, and M-1 Dance radio stations.

With the final transaction value still unknown to the public, the deal is expected to close this summer. The purchase will be financed through a combination of own funds and borrowed capital.

Currently, 15min Group owns the news portal 15min, the news agency BNS, magazines Žmonės, Legendos, and Ji, the home cinema platform Žmonės Cinema, and the portals prenumerata.lt, bookswap.lt, and manodaktaras.lt.

“We believe in the radio business and its future. Like many of us, I grew up with M-1, so I am thrilled to have the opportunity to interact with this organization more closely. Becoming a larger media group will allow us to offer people higher quality news, entertainment, and ways to interact with all our brands,” said Tomas Balžekas, the main shareholder and CEO of 15min Group.

In this transaction, 15min Group is represented by COBALT team led by Partner Elijus Burgis and Specialist Counsel Deimantė Pagirienė.