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Népszava gets further capital injection

Népszava Kiadó, the publisher of Hungarian national daily Népszava recently received a HUF 73 million capital injection from TGD Intermedia, registered in Lugano, Switzerland, the online edition of business weekly HVG reported on Thursday.

The capital raise is the second one since TGD Intermedia purchased 97% of Népszava Kiadó last spring. TGD Intermedia raised the capital from HUF 3 million to HUF 73 million in the summer of 2009.

Népszava Kiadó posted a HUF 3 million loss on revenue of HUF 262 million in 2008, said.

The daily sold on average 18,700 copies of each issue in the third quarter of last year, according to the report.

Népszava defines itself as a social democratic daily, and is considered as being close to the governing MSZP. noted adding that the Swiss company, set up in 2007, is represented by the lawyer's office of Gyula Dávid, a former MSZP MP. (MTI-ECONEWS)