It has emerged that Polish media conglomerate Agora, the owner of Polish challenger portal Domiporta.pl, plans to sell off its asset as the realities of the economic downturn bite.
Like many companies with portal assets, Agora’s stock price has not fared well over the last six months and the move comes hot on the heels of the company laying off staff at its job portal GoldenLine.pl and reducing salaries of remaining employees.
With international media giant Ringier Axel Springer moving to acquire a 79% share in rival Polish portal Morizon last week, it may be that Agora has seen the writing on the wall and is cashing in on an asset that may struggle going forwards. It remains to be seen how the portal landscape will shape up in the long term with these developments.
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