Vajna May Buy Hungary's TV2 This Year
- 31 Aug 2015 9:00 AM
Government film commissioner Andy Vajna may purchase television channel TV2 in a matter of weeks or months, Népszabadság reports. Current owners Zsolt Simon and Yvonne Dederick do not appear to have funds to pay the estimated Ft 5 billion purchase price to ProSiebenSat 1, the German company from which they bought TV2 at the end of 2013, the newspaper adds.
Reports at the time said the two would pay for the acquisition from the profits made by TV2.
However, the channel lost Ft 1.5 billion in 2014, after shortfalls of Ft 10.8 billion in 2013 and Ft 6.7 billion in 2012.
Developments around TV2 will speed up soon, as Ft 25 billion in state advertisements earmarked for 2016 are to be allocated, Népszabadság writes.
The government is expected to decide in September on allowing TV2 and RTL Klub to charge a so-called distribution fee.
Simon indicated to Forbes magazine earlier that this could generate an annual Ft 6-8 billion in additional revenues for TV2.
Source: Hungary Around the Clock
This news item is one of many published daily by HATC, a premier subscription news service which distributes English-language info about Hungary via email or fax. For a free trial of HATC visit www.hatc.hu and click on 'Free Trial Subscription’.
LATEST NEWS IN business