German media business M DuMont Schauberg has agreed to acquire the German operations of European newspaper and content group, Mecom, for €152 million (£135 million) in cash.

German media business M DuMont Schauberg has agreed to acquire the German operations of European newspaper and content group, Mecom, for €152 million (£135 million) in cash.

Mecom Germany publishes three titles and operates ten websites, with over one million daily readers and over three million unique users per month.

The disposal is part of the media group’s strategy to home in on its core businesses and strengthen its balance sheet. The proceeds of the deal will be used to reduce the group’s borrowings.

Mecom has stated that the sale will leave the remaining Dutch, Danish, Norwegian and Polish businesses in a stronger position in the current market conditions.

Privately held M DuMont Schauberg is based in Cologne and controls several German newspapers.

David Montgomery, executive chairman of Mecom, said: “The Board is confident that the strategy of reducing debt and focusing on our core assets greatly improves the position and prospects of the group.”