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Independent news agency goes out of business

B&P Braun & Partners said on Wednesday it is shutting down its news agency Független Hírügynökség (FH) after it proved to be financially unsustainable.

FH produced 150-200 news items daily, both written and radio-ready, but revenue covered only about 15% of its expenses. FH attempted to cooperate with media companies, but negotiations were unsuccessful.

FH was set up by private investors in 2004.