Chinese CITIC acquires majority stake in Czech media group
Photo by Postmodern Studio/Shutterstock.com
The Chinese state concern CITIC has acquired a majority stake in one of the largest Czech media houses, Médea, the news portal Hlídací pes reported on Saturday, Czech Radio says.
Photo by Postmodern Studio/Shutterstock.com
CITIC previously held a 30%-share in the company but it has exercised an option to obtain more and now possesses a greater stake than second owner Jaromír Soukup, who is a frequent presenter on the Médea television station Barrandov. The media group also includes magazines such as Týden and Sedmička.
Hlídací pes said the main drivers of the deal had been former defense minister Jaroslav Tvrdík and President Milos Zeman’s advisor Martin Nejedlý. The news site said the deal could give the Chinese group greater influence on the Czech media landscape, Czech Radio adds.
ADVERTISEMENT
Karotin Developing Soil Management System in HUF 545 mln R&D...
Parliament Negates Mandatory Membership in MOK
Graphisoft Introduces Archicad Collaborate
Service Restarted on Full Length of Metro Line M3
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
