Penta Investment has entered the Czech media industry by taking over Vltava-Labe-Press (VLP) from Verlagsgruppe Passau. VLP publishes the nationwide daily Deník. Michal Klíma, who led Lidové noviny and Economia, was appointed general director of VLP. The price of the transaction was not disclosed, however it included the acquisition of a 51-percent stake in Astrosat Media, a 70-percent stake in Česká distribuční and a 35-percent stake in the distribution giant PNS. VLP is the second strongest publishing group on the Czech market, according to the server lidovky.cz, with annual turnover in the range of CZK 1bn. The VLP acquisition has also helped boost occupancy at Penta’s Aviatica office project, completed earlier this year in Prague 5. Part of the Waltrovka complex, Aviatica will serve as the publisher’s new headquarters.
