Schibsted Baltics, a subsidiary of Schibsted Media Group in Estonia, has acquired 100% of the shares in TVNET.lv. With more than 530,000 unique monthly visitors, Tvnet.lv is the second biggest internet news site in Latvia. The site was established in 2001.
The investment in Tvnet.lv is Schibsted Media Group’s first presence in Latvia and an important step in order to strengthen the presence in Baltic internet market, says Mart Kadastik, CEO of Eesti Meedia.
Through Eesti Meedia, Schibsted Media Group is Estonia’s leading media company, with activities in all fields of media. In Lithuania the activities comprise online news and classifieds, free newspapers as well as magazines.