Central European Media Enterprises announced on May 27 that it had acquired Jyxo, information technology provider and operator of the leading Czech blog site, for a price of between €6.5 - 8 million. Jyxo founder and general manager Michal Illich will join CME's Nova TV to head technical business development and enhance the channel's internet service offerings.
Jyxo, whose operations extend to Slovakia and Hungary, has 400,000 active blogs and 2.5 million real users per month. In 2007, it had combined revenues of €710,000 and a profit of €440,000.
In a press release, Michael Garin, CME's Chief Executive Officer, stated: "The addition of Jyxo and the leading blog site marks another key milestone in the evolution of CME's rapidly growing Internet offering." CME (www.cetv-net.com) operates stations in six countries in Central Europe with a combined population of 90 million people. It trades on Nasdaq at CETV.