Communicorp Group has agreed on the sale of Radio SWH to a strategic investorCommunicorp Cinamon Holding and the management, including long-time radio station manager and co-founder Jānis Šipkēvics and Commercial Director Filips Rubenis.
Radio SWHRadio SWH launched 22 years ago as the first commercial radio station in Latvia. Acquired by the Communicorp Group in 2007, it has increased its portfolio by 4 additional stations and Cinamonthe group is now the commercial radio market leader in Latvia.
Commenting on the sale, Gervaise Slowey, Group CEO of Communicorp said: “We are privileged to be part of the history of SWH, one of Latvia’s greatest indigenous businesses. Communicorp is proud to have played its part in building the leading commercial radio group in the country. We would like to wish Cinamon on-going success”.
“Cinamon Holding will continue writing history of Radio SWH, developing it in synergy with its cinema operations”, comments Iveta Kūliņa, Cinamon Holding CEO.
Communicorp Group Limited is Ireland’s premier media company and the home of some of Europe’s leading commercial media brands. Communicorp owns and operates a portfolio of media channels with a strong focus on commercial radio and emerging digital media. The company maintains some of the largest independent radio networks in Ireland, Eastern Europe, and the UK and it continues to be one of the fastest growing radio networks in the world with 22 radio stations across 3 countries.
Cinamon Holding is investment company active in entertainment and media across the Baltics. Cinamon owns a network of cinemas in Estonia, Lithuania, Latvia and the only IMAX cinema in the Baltics, located in Tallinn.
Communicorp Group’s financial advisor for the transaction was Porta Finance.
Partner, Porta Finance
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