French Radio Station Skyrock Founder Wants To Sell Online Op To Fund Buyback: Report

From our sister site paidContent:UK: French radio station Skyrock is looking to sell off its highly successful online operation, according to French magazine Challenge. The pop music station was founded by Pierre Bellanger and added the Skyblog platform, giving youngsters free online journals, in 2002. It has since risen to become France’s eighth most popular site. Skyrock’s holding company Orbus (80 percent owned by Axa’s private equity arm, 20 percent by Bellanger) now wants to sell. The theory goes that Axa would exit and the funds would give Bellanger the clout to repurchase the radio station he founded outright. Challenge says the valuation is a mighty 300 million euros ($440 million).

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