Antwerp-based DPG Media Group has signed a new lending agreement with the European Investment Bank (EIB).
The EIB said that after a first loan signed in 2022 to support the group’s digitalisation of media platforms, DPG has now signed for a further €120 million loan “in the framework of further digitalisation and innovation of its media.”
The financing will allow DPG Media to accelerate its digital transformation and continue to play a leading role in digital innovation as a local player.
As part of the project, DPG Media expects to increase its knowledge and expertise in artificial intelligence and content distribution, in alignment with the objectives of the Digital Europe Programme.
“Built around financing eight core priorities, the EIB finances investments that support EU policy goals, including digitalisation,” said the EIB.
DPG Media Group is active in the Belgian, Dutch and Danish media markets, has a workforce of 5,396 employees and a portfolio of 90 publishing, broadcasting and services brands.
The DPG Media Group brands reach a total of 15 million media users every day.
EIB vice-president Robert de Groot: “Digitalisation and the development of advanced technologies play a key role in Europe’s competitiveness. These technologies must be an intrinsic part of the broad support for European entrepreneurs and companies. DPG’s investments to digitise its offering and services are in line with European ambitions. EIB loans are meant to foster this type of development.”
DPG Media CEO Erik Roddenhof said: “We are delighted with this new long-term loan from the European Investment Bank for our investments in our further digital transformation. We deem this necessary to be able to successfully offer independent and strong media as a local media player in a rapidly changing market that is increasingly dominated by global players.
“With this loan, the group diversifies its debt financing, both in terms of creditors and tenors. We regard the support of the European Investment Bank primarily as a quality stamp, not only for the creditworthiness of DPG Media, but especially for our digital efforts.”