HUMO Moves to Joint Venture with TV House Woestijnvis
Sanoma Magazines Belgium and De Vijver NV plan to develop a joint venture in which the magazine HUMO will be placed.
De Vijver NV, a holding that manages, among others, the TV house Woestijnvis, will acquire 49% of the shares of the new company. HUMO will thus remain part of Sanoma Magazines Belgium for 51%. Day-to-day management of the new company will be executed by De Vijver. Sanoma Magazines Belgium will continue in an important role in the management board and will delegate two board members. Also, Sanoma Magazines Belgium will take a 25% participation in Woestijnvis. With this step both companies secure a key position in the multimedia landscape.
Sanoma Magazines Belgium and Woestijnvis wish to start up the new company on 1 April. HUMO employees will move to the new company and work from the offices of Woestijnvis.
The co-operation has large potential. Woestijnvis is the market leader in the area of innovative television and has strong ties with young people. HUMO is an innovative and advanced magazine with a broad and loyal audience. Woestijnvis and HUMO want to continue in leading roles in the fast-changing media landscape and are convinced to enforce each other.
Sanoma Magazines Belgium is part of the magazine division of the Sanoma Group.
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