The editorial of closure-slated Hungarian daily Magyar Hírlap would even work free if this allowed publisher Ringier to keep the paper on the market, Magyar Hírlap said on Monday. Other expenses would still have to be covered by Ringier.
The publisher, Ringier Kiadó Kft is to shut down Magyar Hírlap, one of Hungary's oldest daily newspapers, due to the paper's losses.
CEO Bála Papp said on Friday that the paper's losses accumulated since 2001 were now about HUF 2 billion.
Magyar Hírlap will be published for the last time on November 6, so there is still time for a last agreement with investors and to take a memorable leave from readers, Papp said.
Ringier will continue to publish Magyar Hírlap's magazines.
The intention of Magyar Hírlap's staff is laudable, but let us note that Ringier is also the owner of Magyar Hírlap's competitor Népszabadság, and so it would be worth selling MH only at an appropriately high price.
Source: Portfolio online financial journal
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02.11.2004