20
Sun, Oct
52 New Articles

Sorainen Advises Zurnal Leidybos Grupe on Sale of Publications to Media Bites

Sorainen Advises Zurnal Leidybos Grupe on Sale of Publications to Media Bites

Lithuania
Typography

Sorainen is advising Zurnalu Leidybos Grupe, the publisher of the popular Lithuanian magazines “Zmones”, “Laima”, “Ji”, and “Edita” and the operator of the portals Zmones.lt, Ji24.lt, Elaima.lt, and Shopspy.lt, on the transfer of its business to Media Bites.

According to Sorainen, "the parties signed a letter of intent at the beginning of September. Once the deal is closed, Media Bites will take over all employees, assets, obligations and contracts of ZLG, including shares in associated company Medipresa, which is also ZLG's press and books distributor. However, ZLG will retain ownership of its subsidiary company Vertikali Medija.

Cameron Greaves, Chairman of the ZLG board commented that: “The new owners of our magazines and portals have significant previous experience in the media business. In our view it will seamlessly assume the publishing traditions and commitment to high quality which have been the cornerstones of ZLG’s business for nearly three decades, together with maintenance of a high reputation. They will also continue the program of modernization required in the ever-changing media market.”  

The Sorainen team is led by Co-Managing Partner Laimonas Skibarka and Associate Vytautas Sabalys.

Lithuanian Knowledge Partner

COBALT is closely integrated alliance of top-tier law offices in Estonia, Latvia, Lithuania and Belarus, making us one of the largest law firms in the Baltic market. 

COBALT is a trusted partner for daily matters and complex large-scale transactions and disputes. The firm’s broad spectrum of expertise and established position as the market leader give a comprehensive basis for providing advice on special areas of business law.

We advise top international and regional businesses, financial institutions, state and local governments, and the region’s most promising start-ups. We offer leading-edge solutions in key industry sectors: Consumer Products, Trade & Distribution, Real Estate & Construction, Pharmaceuticals & Healthcare, Energy & Utilities, Communications, Media & Technologies, Financial Services, Transport & Logistics.

COBALT has been named Baltic Law Firm of the Year 6 times. We were recognized as the Most Innovative Law Firm of the Year 2019 in the Baltics at the IFLR European Awards in London. COBALT also won CEE Legal Matters Deal of the Year Award for Estonia, Latvia, and Lithuania, as well as the overall Baltic Deal of the Year, at the 2019 CEE Legal Matters Awards. We have received multiple awards from the Chambers Europe, IFLR, The Lawyer and Mergermarket and we are regularly listed amongst the top performing M&A legal advisors in the Bloomberg, Thomson Reuters and Mergermarket deal tables

More information on Cobalt can be found at www.cobalt.legal

All News about Cobalt can be found here.

 

Our Latest Issue