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Népszava changes hands

In Hungary

pr

After months of negotiations, the publication rights of Hungarian daily Népszava are being sold to Marquard Media of Switzerland, online daily mno.hu reported today. Staff were told of the purchase yesterday, and will reportedly be informed next week of the future of the paper and its journalists. It is not yet known how many staff could be laid off, mno.hu added.

(Photo: Official Facebook page of Népszava)

The Hungarian daily noted that only the publication rights are being transferred from Swiss TGD Intermedia SA to Marquard Media, which already publishes Joy, Playboy and Éva Magazin in Hungary. The staff of approximately 50 is employed by Hungarian entity Népszava Lapkiadó Kft. 

“It’s been a miracle that Népszava has been published every day,” Elza Láposi, the director of Népszava Lapkiadó, said, confirming the news of the purchase. She added that in the past few years strict steps have been taken to establish a more economical operation, which led to decreased salaries and job cuts.

The new owner was reported to have made a promise to take staff over on a “continuous employment” basis, recognizing the start dates of their contracts under the previous employers. Those it cannot take on will be offered a payoff, it was reported.

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