Ekspress Grupp Turns to Court Over Õhtuleht Purchase

Photo: Postimees/Scanpix
12/13/2013 2:55 PM
Category: Economy

The nation's two largest media companies, Ekspress Grupp and Eesti Meedia, have entered a court battle over co-owned daily Õhtuleht.

In the case brought to court today, Ekspress Grupp, the owner of Päevaleht and Delfi, is claiming that Eesti Meedia, the owner or Postimees, has impeded its purchase of Eesti Meedia's share of the daily uudised.err.ee reported today. The basis for the claim is not yet clear. 

The group had the right to fully purchase the co-owned daily after Eesti Meedia was subject to a management buy-out, and Ekspress Grupp said it will exercise its first right to buy.

Meanwhile, the head of Eesti Meedia, Mart Kadastik, has said his company will in turn take Ekspress Grupp to court if it has not met its obligation to pay the 3.5 million euros owed for its half by Monday's deadline.

Kadastik said that that the valuation Õhtuleht was made by a neutral company, and according to a contract between the two media concerns, payment for Õhtuleht must be made by December 16. He said that the court case brought by Ekspress Grupp was probably an attempt to push the payment date further into the future.


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