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Shipowner Marinakis buys historical media group, stake at Mega TV

Shipowner Vaggelis Marinakis bought the historical media group Lambrakis Press Group(DOL). Making the best tender offer, Marinakis is now owner of newspapers TA NEA and TO VIMA, of the websites of DOL group as well as of a 22.11% stake at private MEGA TV. The deal includes also VIMA FM, 50% of IRIS printing house and 41.22% of distributor network Argos.

Marinakis’ media group Alter Ego made the best offer in the relevant tender. He offered 22,892,226  euros.

Other bidders were the Cypriot company Vegata with €21.6 million, Greek-Russian businessman Ivan Savvidis with €11.9 million and two other company with much lower offers that seemed to have a rather symbolic character.

For the real estates of the DOL, tender winner was Alfa Urban Estates with €3.78 million.

According to media websites, the only obligation the new buyer has is reportedly to maintain the DOL media he will want to keep in operation and also the service of the debts of Argos and Iris.

The sale marks also a change in the status of old media oligarchs in Greece. A couple of days ago, the Pegasos media group of constructor Bobolas sold 20% of the shares of Mega TV to Savvidis. Pegasos now owns just 13.09% of Mega stakes.

Both Marinakis and Savvidis had participated in the state tender for the private television network licenses, a tender that the government was forced to cancel after it had concluded.

Employees and freelancers who have worked in DOL were in “panic mood” when the tender bids were opened at 12 noon Wednesday. The fear to lose outstanding payments that include salaries of several months and lump sums.

According to daily Efimerida Ton Syntakton, the workers are officially ‘fired’ and it will be up to the new owner to decide whom to hire and under what kind of work contracts.

“65% of the money will go to the banks, 10% to suppliers, 25% to public administration [tax office, apparently], social security funds and to employees,” EfSyn notes.

49-year-old Evaggelos Marinakis is also owner of Olympiakos FC and Nottingham Forest FC in UK.

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