The battle for taking over the Telegraaf Media Group escalated on Sunday. Commissioners on the TMG supervisory board suspended the group's CEO Geert-Jan van der Snoek and CFO Leo Epskamp with immediate effect due to a breach of trust, they announced in a statement on Sunday evening, the Volkskrant reports.
The commissioners also announced a final agreement with a new, slightly higher bid made by Flemish Mediahuis and VP - the investment company of the Van Puijenbroek family.
Talpa is not giving up in the struggle to take over the Telegraaf Media Group (TMG), despite the supervisory board's decision to negotiate exclusively with rival Mediahuis about a takeover. On Wednesday morning, Talpa increased its bid to 6.35 euros per share, well above the 5.90 euros per share Mediahuis offered for TMG, Het Parool reports.
Dutch media mogul John de Mol's company Talpa made a bid for acquiring media group TMG, the parent company of Dutch newspapers De Telegraaf and Metro, among others. The offer price is 5.90 euros per share, Talpa announced on Monday, ANP reports.
The Telegraaf Media Group's revenue continues to decline. The parent company of, among others, De Telegraaf and Metro saw a decline in operational profits of 19 million euros in the first half of the year. This is according to the half-year results that the company released on Friday. The group also announced the appointment of political commentator Paul Jansen as chief editor, starting on September 1st.
The Telegraaf Media Group, publisher of the newspaper De Telegraaf, suffered a loss of 38.09 million euros last year, compared to a profit of 177.9 million euros in 2013. The revenue also decreased from 542.2 million euros in 2013 to 514.9 million euros last year, De Telegraaf reports.
The NRC Media group may be sold to De Telegraaf Media Groep (TMG). According to the Financieele Dagblad, TMG wants to take over the media company, and is currently discussing a price.
The Telegraaf Media Group (TMG) said it will shut down the Dutch social network Hyves, Telecom Paper reports.
