Tomas Balžekas, a former CEO of the 15min portal and BNS Lithuania, is buying the magazine publishing and website administration business of Žurnalų Leidybos Grupė (Magazine Publishing Group, or ŽLG), a leading Lithuanian magazine publisher, via his company Media Bitės.
Tomas Balžekas
© DELFI / Domantas Pipas

Dutch-registered Stichting Administratiekantoor Kemplake has owned ZLG since 2013.

Balžekas told BNS that he expected to close the deal, the value of which is not being disclosed, by the end of September.

Media Bites will also purchase a 40 percent stake in Medipresa, ŽLG's periodicals and books distribution subsidiary. ŽLG continues to control Vertikali Medija, the operator of the car classifieds site Autogidas and the real estate classifieds site Domo Plius.

ZLG publishes the magazines Žmonės, Žmonės.Legendos, Virtuvės Paslaptys, Gyvenk Sveikiau and Laimos Stilius. It also owns the websites,,, and

ZLG posted 7.994 million euros in consolidated revenue for 2016, up 19.7 percent from 6.68 million euros in 2015. The group's consolidated net profits last year slumped down by 46.1 percent to 320,300 euros.

It is prohibited to copy and republish the text of this publication without a written permission from UAB „BNS“.

Preparations for possible Astavyet's accident discussed

A temporary group of the Lithuanian Seimas will on Wednesday discuss the country's preparation for a...

Watchdog: Google won't ban use of its servers to access file-sharing site

Mantas Martisius, the chairman of the Lithuanian Radio and Television Commission ( LRTK ), says the...

IMF: Lithuania is better prepared for challenges

Lithuania's economy is stable and the country is better than ever prepared for challenges, the head...

Government set to approve guarantees for outgoing president

The Lithuanian prepares to approve guarantees for outgoing President Dalia Grybauskaite .

Lithuanian laser professionals at world's largest laser photonics exhibition

On June 24-27 Lithuanian laser manufacturers will present their latest technologies in the most...