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Report: Soros to bid for origo.hu

Pharma

Brit Media Befektetési Kft. (BMB) has reportedly submitted an aggressive bid to Magyar Telekom for the purchase of leading Hungarian news and entertainment portal origo.hu, according to a report by mmonline.hu. 

American hedge fund guru George Soros (pictured) is behind BMB, the marketing and media online news portal reported yesterday. Other bidders in the sale include Terror Háza chief Mária Schmidt, hirkereso.hu owner Gábor Holló, Centrál Médiacsoport Zrt. and RTL Group.

Magyar Telekom decided a few months ago to sell the loss-making origo.hu, which generated HUF 4 bln in losses over the past five years, mmonline.hu noted. Organizations linked to Soros have recently supported other Hungarian media companies, including liberal news portal 444.hu and investigation journalism specialists atlatszo.hu.

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