DMGT Adds Serbian Job Site To Growing Eastern Europe Portfolio

While it cuts jobs and restructures in both its national and regional newspapers, Daily Mail (LSE: DMGT) & General Trust is still busy making acquisitions in eastern Europe. DMGT has bought a 51 percent stake in Serbian social networking site Poznanici.com, which has more than 100,000 users in Serbia and other former Yugoslavian countries, for an undisclosed sum according to Profy.com.

DMGT is already active in the region and earlier this year bought a 25 percent stake in Serbia’s biggest job site Infostud and it also acquired Posao.ba, Bosnia and Herzegovina’s largest job site. Add to that the group’s Croatian job site Moj-Posao.net and Croat soc net Tulumarka.com, all of which a DMGT trading update in September said was growing “very strongly”, then you have quite a portfolio of digital in the Balkans. Perhaps one way out of the downturn for digital publishers is to invest heavily in emerging markets at the same time as cutting back your UK operations?

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