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ProfMedia Looks to Sell Rambler for $200 Million

Files under: News
Posted by: Quintura @ 10:51 [20. 04. 10]

The Russian entertainment media group ProfMedia is shopping around its Internet portal and search engine Rambler Media, reported newspaper RBC Daily. ProfMedia is reportedly asking a price of $200 million for Rambler. The offer from Digital Sky Technologies (DST) to acquire Rambler‘s 50.1%-owned contextual advertising service Begun was rejected because ProfMedia would like to sell Rambler Media as whole company, the newspaper said.

Rambler reported total revenues of $30.8 million in H1 2009, down 40% from H1 2008. Its EBITDA was $2.6 million in H1 2009. Rambler‘s search market share dropped to 3% in Q1 2010 from 10% one year ago. In December 2009, Rambler‘s websites attracted an audience of more than 14 million unique visitors according to TNS Web Index. Rambler is headed by CEO Olga Turischeva who started in April 2009.

ProfMedia acquired a 55% stake in Rambler Media for estimated $250 million in late 2006. In February 2010, ProfMedia consolidated 100% stake in Rambler. In spring 2010, ProfMedia offered $120 million to acquire ICQ from AOL.

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