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REFILE-BRIEF-ARTNEWS and Brant Publications to merge art media properties
July 30, 2015 / 7:08 AM / 2 years ago

REFILE-BRIEF-ARTNEWS and Brant Publications to merge art media properties

(Refiles to add details from Business Wire statement of ARTNEWS SA and Brant Publications, Inc. Adds source text link to Business Wire statement.)

July 29 (Reuters) - ARTNEWS SA :

* ARTNEWS SA and Brant Publications, Inc. announce terms to combine the two publishing companies’ art media assets

* ARTNEWS to buy 100 percent of Art in America, The Magazine Antiques, Modern Magazine and related archives and digital properties from BMP Media Holdings, LLC (BMP)

* In exchange for media assets, BMP to subscribe for 25,531,132 new issue shares representing 47.61 percent stake in company at about 2 zloty per share

* Its current shareholder, Skate Capital Corp. (Skate Capital) to subscribe for 3,412,903 new shares at 2.69 zloty per share

* Skate Capital to sell 6,400,500 shares of ARTNEWS to BMP for $3.4 million

* Parties of the transaction- BMP and Skate Capital plan to list ARTNEWS on Germany’s Deutsche Boerse in 2016

* After completion of the transaction Izabela Depczyk will remain the chairman of ARTNEWS’ management board and the headquarters of ARTNEWS will remain in Warsaw, Poland

* The combined company will be based in New York

* Brant Publications, Inc. (BMP Media Holdings LLC) is the majority shareholder of ARTNEWS SA following the transaction Source text for Eikon:, Further company coverage: ($1 = 3.7293 zlotys) (Gdynia Newsroom)

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