August 17th, 2012

Court orders Epamedia to pay former head of Hungarian business for minority stake

A Budapest court has rejected an appeal by Austria’s Epamedia of an earlier ruling ordering it to pay the former head of its Hungarian business EUR 4.9m plus interest for a minority stake in its outdoor advertising unit.

Melinda Hidveghy sold her minority stake in Outdoor, Epamedia’s flagship in Hungary, in 2008 and left the company in 2009, but Epamedia failed to pay her in full for the stake.

Epamedia leads Hungary’s outdoor advertising market.

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