Vilnius, February 28, 2025 – A Lithuanian news portal, Lrytas.lt, is changing hands after a lengthy regulatory review, signaling a shift in the Baltic media landscape. The sale comes after the competition Council of Lithuania mandated that Ekspress Grupp divest part of its Lithuanian news holdings to address competition concerns.
Regulatory Hurdles Lead to Ownership Change
The decision follows a 2023 investigation into Ekspress Grupp’s acquisition of UAB “Lrytas.”
- Ekspress grupp is selling Lrytas.lt to comply with Lithuanian competition regulations.
- UAB “Admisa” is the acquiring company, expressing confidence in the portal’s future.
- The deal is expected to be finalized by the end of 2025, with the purchase price remaining undisclosed.
- Ekspress Grupp anticipates a €2.3 million loss from the transaction.
UAB “Lrytas” will continue operating as a news portal under new ownership. Employee-related matters following the completion of the transaction will be handled by UAB “admisa.”
“The prolonged Competition Council process prevented us from fully realizing the potential of Lrytas.lt within our group,” stated Mari-Liis Rüütsalu, Chairperson of the Management Board of Ekspress Grupp. “This transaction allows us to meet regulatory requirements while ensuring that ‘Lrytas’ continues to develop under a new owner.”
Rolandas Skaisgirys, CEO of the acquiring company UAB “Admisa,” voiced his confidence in Lrytas.lt’s future prospects.”We believe in the opportunity to leverage the natural synergy between ‘Lietuvos ryto’ television and the Lrytas.lt portal and achieve a breakthrough in advancement,” Skaisgirys said. “High-quality journalism, a strong and autonomous media – these are of particular importance in today’s context.Editorial independence, high ethical standards, and journalistic integrity are the main values of this media outlet.”
The Lithuanian Competition Council has already approved the transaction, which is slated for completion before the end of 2025. Both parties have agreed to keep the purchase price and other commercial terms confidential.
Ekspress grupp anticipates a one-time net loss of approximately €2.3 million as a result of the sale. Currently, “Lrytas” accounts for about 5 percent of Ekspress Grupp’s total turnover and approximately 2 percent of its EBITDA (earnings before interest, taxes, depreciation, and amortization).
Ekspress Grupp will continue its operations in Estonia, Latvia, and Lithuania, where it owns the leading news portal Delfi.lt and holds strong positions in the main Baltic markets.
Ekspress Grupp is a leading media group in the Baltic countries, primarily focused on the creation of digital media content, publishing newspapers, magazines, and books. The group also operates an electronic ticket distribution platform and ticket offices in Latvia and Estonia, provides digital outdoor screen services in Estonia and Latvia, and organizes conferences, training sessions, and events mainly in Estonia and Lithuania, as well as Latvia.
