The company “Mondo”, within which Kurir and other media operate, has changed its direct owner, remaining, for now, in the ownership of WMG – Wireless Media Group. This could be one step closer to the entry of “Telekom” into the ownership of Kurir, given that the burden of 3.3 billion dinars of debt, publicly mentioned as a debt to “Telekom”, was previously transferred to the current owner of “Mondo” from the alienated company. for the purchase of the company that publishes the Kurir newspaper.
Until March 15, the owner of “Monda”, as written by N1, was the company “Wireless Media doo”, and from that day it passed into the ownership of WMG Media doo, practically its recently founded “aunt-company”.
After that, the name of the company “Wireless Media doo” was changed to “Smart Ventures doo”, which was registered in the APR on April 3.
Immediately afterwards, on April 18, the exit of “Wireless Media Group” from ownership in this company, which now belongs to Petar Damnjanović, was registered.
“On March 15, 2024, by the decision of the Agency for Business Registers, the members of Mondo INC doo were changed, so that instead of Wireless Media doo, the only member with a 100 percent share, WMG Media doo was registered as the only member with 100 percent of the shares”, it is stated in the Notes to the financial statements of the company “Mondo”.
Before these transformations of transfer of ownership, another one happened, about which poratal N1 wrote in mid-March.
The role of Telecom
Let us remind you that the new media laws enabling the state-owned “Telekom Srbija” to be the owner of the media were adopted on October 26, 2023. The regulations were adopted ten days after the expiration of the five-year period after which “Telekom” can buy from the company “Wireless Media doo” (which is now sold outside the group), the entire share in the company Mondo Inc., which publishes the daily newspaper Kurir, several magazines , within which Kurir TV operates, as well as other companies.
This buyout of shares in Mondo Inc. would go through a debt-to-equity conversion.
Because previously “Telekom” invested 38 million euros in the company “Wireless Media”, according to the contract of October 15, 2018, which was presented to the public in August 2020 by MP Marinika Tepić.
Now the owner of Monda is WMG Media, a recently established sister company of Wireless Media doo
From one to four companies
Nearly 20 companies operate within the Wireless Media Group – the parent company, according to data from the Agency for Business Registers.
The company Wireless Media doo, which concluded this contract with Telekom, was a daughter company of the parent company Wireless Media Group, which operated under the name Mobil Media until the end of September 2023.
Then, on March 7, 2024, the daughter company Wireless Media received three more sisters, created by separation.
That’s how four companies were practically created from one.
The sister company from which everything was created – Wireless Media, distributed its assets, claims and liabilities to its sisters.
The burden of 3.3 billion dinars of debt was transferred to the sister company WMG Media, registered for the activity of “management of an economic entity”. It is, as we wrote, about the so-called “other long-term liabilities” of 28 million euros.
It is precisely this amount, the amount of 28 million euros, or 3.3 billion dinars, under account number 419 in the business books of Wireless Media doo (which in the meantime became Smart Ventures doo), that was publicly mentioned as an indication that Telekom gave money to the company Wireless Media, owned by Igor Žeželj, for the purchase of the company (“Adria Media Group”) that publishes the Kurir newspaper.
Then Wireless Media transferred the mentioned amount, under the same label in the balance sheets, to the newly founded company WMG Media, which has a founding capital of four million dinars.
In order to take ownership of Kurira, Telekom should enter the ownership structure of Mondo Inc.
The necessary step to complete the transaction – that the ownership stake in Mondo Inc be transferred from the company Wireless Media to WMG Media (in which Telekom’s claim is located) has just been done.
What do the final accounts say?
The company Wireless Media doo, which now operates under the name Smart Ventures, 100% owned by Petr Damnjanović, in 2023 achieved business revenues of 3,250,509,000 dinars and a net profit of 278,129,000 dinars, which is about 2.37 million euros.
The new owner of Wireless Media, Petar Damnjanović, is also the owner of the Mentors Group, registered for accounting, bookkeeping and auditing, as well as tax consulting. He was a liquidation manager in more than 20 companies.
When it comes to the company Mondo INC, last year it generated income (business income) of 4,374,759,000 dinars, while the net profit was around 1.5 million euros (175,455,000 dinars).
On December 31, 2023, Mondo had 489 employees (on December 31, 2022, there were 89 employees).
According to the data from the final accounts, Mondo is the owner of the following legal entities:
• Admatic Media doo Serbia – 100% owner of capital,
• Adria Media Magazini doo Serbia – 100% owner of capital,
• Firefly Productions doo Serbia 67.33% – capital owner,
• Mondo Trgovina Ogl doo Serbia 100% – capital owner,
• Telecruiser doo Serbia 50% – capital owner,
• TVC Hungary kft klasik TV Hungary 100% – owner of capital,
• DOX TV Hungary kft Hungary 51% – capital owner,
• Midas Network doo Croatia 26% – capital owner,
• Mondo INC Zagreb doo Croatia 100% – capital owner,
• Adria Media Zagreb doo Croatia 100% – owner of capital
In the documentation with Mondo’s final accounts, in addition to the change of ownership from Wireless Media doo to WMG Media doo, it is also stated that bankruptcy proceedings were opened against a related legal entity – the company Adria Media Zagreb doo – on March 5 this year, by the decision of the Commercial Court in Zagreb .
Tags: Wireless Media changed owner Mondo property auntiecompany
-
