Schoenherr has advised Funke Mediengruppe on the sale of Pannon Lapok Társasága ("PLT") to Mediaworks. The acquisition was approved by the National Media and Infocommunications Authority and the Hungarian Competition Authority, and the deal closed on 30 September 2016. The purchase price is not public.

Pannon Lapok Társasága is present in four Hungarian counties with regional papers in addition to having local digital media channels as well.

Mediaworks, with over sixty media brands, is one of the largest media enterprises in Hungary. Mediaworks has an annual turnover of approximately HUF 16bln, nearly 650 employees and newspapers such as Nemzeti Sport, Népszabadság, Világgazdaság and regional newspapers in eight counties, as well as a portfolio of women's and gastronomical magazines, and digital media products.

After the closing of the transaction, PLT and Mediaworks together have annual revenues of nearly HUF 25bln and approximately 1150 employees.

Mediaworks was advised by GSV Legal (Bernd Grama, Georg Zacherl) on Austrian law and DLA Piper Budapest (András Posztl, István Szatmáry) on Hungarian law.

Schoenherr's team on this transaction consisted of Markus Piuk (partner, Vienna; corporate/m&a), Kinga Hetényi (managing partner, Budapest; corporate/m&a), Manuel Ritt-Huemer (attorney at law, Vienna; corporate/m&a), Gábor Kordoványi (attorney at law, Budapest; corporate/m&a) Roland Szebényi (associate, Budapest; corporate/m&a), and was also supported by Christoph Haid (partner, Vienna; EU & competition) and András Nagy (associate, Budapest; EU & competition) with respect to competition questions.