Acquisition of City magazine takes Agora into free publication market

Agora S.A., publisher of Gazeta Wyborcza, has bought the free monthly magazine City. Agora paid Ceti Marketing Ltd., Tilini Oy and one private investor zl. 982,500 for 100 percent control of the magazine. The acquisition marks Agora's debut on the free publication market. 'It is our first acquisition in this sector. It is a part of our strategy of trying to fill market niches,' said Zbigniew Bak, a member of the Agora board of control. He added, 'We want the magazine's executives to carry on in their positions. Agora will be responsible for the company's accounting, finances and the sale of advertising space in the magazine to cover publication costs.' City, which focuses mainly on culture and entertainment, is one of the leading titles on the free magazine market. Its total circulation is 105,000 copies a month. Last year its revenues from advertising were zl.4.217 million. (Gazeta Wyborcza, April 28-29, p.27) J.K.