Estonian Publisher Ekspress Acquires Baltic Portal Group Delfi For $74 Million

Estonia’s Ekspress Grupp, a media company with newspapers, magazines and information services, has bought Delfi Group, which operates seven web portals in the Baltic region, for EUR 54 million ($74 million) from Interinfo. Delfi runs portals in Lithuania, Latvia, Estonia, Russia and, most recently, Ukraine with around 700,000 daily users and has almost half of the online ad market for the entire Baltic, so Express’ acquisition gives it plenty of clout farther afield than just Estonia itself. Delfi did EUR 6 million ($8 million) in revenue in 2006; the acquisition is funded by Ekspress’ recent IPO and a bank loan. Asides from websites for its print publications, Ekspress already operates car portal Expressauto, property site 4seina and youth entertainment zine from its dedicated internet unit, which opened in December 2006. (Via Thomson).