Central Group Media Holding to sell its market leader job portal

Central Group Media Holding Ltd. sells the leading Hungarian job portal Profession.hu, the enquiry will be submitted to the Hungarian Competition Authority today. The site will be part of Ringier Axel Springer Media AG’s portfolio of online products. Hungarian investor Central Group acquired the portal as part of Sanoma’s portfolio at the beginning of this year.“This is a great step indicating the beginning and base of new developments at Central Group Media Holding” – said Mr. Zoltán Varga, CEO. “Capitalizing on Profession.hu, the biggest job portal on the Hungarian market opens new possibilities towards innovation” – he added. “Motivated by this success we will launch an internal innovation program these months in order to grow similar hits like Profession.hu. In the long run there is always a need for renewing the company this step is part of it.”István Martis, the head of Profession.hu said: “This deal proves that our team is able to create an exceptional and successful online product that even generated international interest. Becoming a member of Ringier Axel Springer will offer a range of international solutions to Profession.hu’s clients and will open a new dimension of developments for the Hungarian jobsite.”Profession.hu was founded in 2002 and has been in the focus of potential buyers’ in the past years, the previous owner Sanoma purchased the portal in 2005 Central Group acquired the portal as part of Sanoma’s portfolio at the beginning of this year. With more than 380 thousand monthly visitors and 8000 active jobs Profession.hu is the market leader in Hungary.The completion of the transaction concerning Profession.hu is subject to approval by the relevant antitrust authorities.