Margus Linnamäe, who was the financier behind the Eesti Meedia management buy-out last year, has acquired 55 percent of Uudisvoog OÜ, which recently bought media company BNS (Baltic News Service).
“As I had already entered the media business as an investor, then the proposal to join the owners circle of BNS seemed logical,” Linnamäe said today.
BNS was only sold by Finnish media group Alma Media to Uudisvoog a month ago. The new owners said the company will continue on the same path in Estonia, but its other Baltic branches need to improve their positions.
Linnamäe said BNS will have a new head in Sven Nuutmann, formerly of Delfi and the USS Security company. Nuurmann said the company will begin to offer more services.
Linnamäe helped to finance the purchase of Eesti Meedia, which in turn owns Postimees, from Norwegian company Schibsted. Linnamäe acquired half the shares of the company in the reported 30-million-euro deal, with the company's management buying the other half.