In an unexpected development, JCDecaux SE and JOJ Media House Group have mutually agreed to terminate their planned merger of outdoor advertising operations in Slovakia, according to an announcement made by JCDecaux on December 14, 2023. The decision marks a significant shift in the consolidation strategy for Slovakia's outdoor advertising sector.

The original agreement, announced exactly one year ago, would have merged JCDecaux's Slovak operations with Akzent Bigboard, JOJ Media House Group's outdoor advertising subsidiary. The proposed structure would have given ATSBG Holding GmbH, a JCDecaux subsidiary, a 60% controlling stake, with JOJ Media House retaining 40%.

JOJ Media House, established on November 6, 2010, has built a substantial presence in Central European media markets. According to corporate documents, the group generated consolidated revenues of 220 million EUR in 2022 and employs approximately 680 people across its operations. The company maintains a diverse portfolio of media assets, including television broadcasting through its MAC TV subsidiary, which operates TV JOJ and TV JOJ PLUS channels.

The termination comes amid significant corporate restructuring at JOJ Media House, which recently divested its Croatian print media operations. On December 21, 2023, the company sold its entire 84.32% stake in NOVI LIST d.d., marking its exit from Croatia's print segment to focus on its core markets in Slovakia, the Czech Republic, and Austria.

JCDecaux's presence in Slovakia dates back to 1990, operating within a market where outdoor advertising comprises 5.5% of total advertising expenditure. The company's global operations span 3,918 cities with populations exceeding 10,000 inhabitants, supported by a workforce of 11,650 employees.

Financial metrics for both companies illustrate the scale of the abandoned merger:

JCDecaux reported:

  • 2023 adjusted revenue: €3,570.0 million
  • First-half 2024 revenue: €1,807.6 million
  • Global daily audience reach: 850 million people across 80+ countries
  • Total advertising panels: 1,056,833 worldwide

JOJ Media House maintains:

  • 100% ownership of Slovenská produkčná, a.s.
  • Full control of BigBoard Slovensko, a.s.
  • Complete ownership of BigMedia, spol. s r.o.
  • 100% stake in RECAR Slovensko a.s.
  • 80% ownership in RECAR Bratislava a.s.

The terminated merger would have consolidated significant outdoor advertising assets under one entity, combining JCDecaux's international expertise with JOJ Media House's strong regional presence. The agreement's dissolution maintains the current competitive dynamics in Slovakia's outdoor advertising market.

This development occurs as the outdoor advertising industry continues to evolve, particularly in Central European markets where both companies maintain significant operations. The decision preserves the existing market structure in Slovakia's outdoor advertising sector, where both companies will continue to operate independently.

The termination of this strategic initiative reflects the complex dynamics of market consolidation in Central Europe's media landscape, where regulatory considerations and market conditions continue to shape corporate strategies.