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Széles to start TV Channel

Gábor Széles, a Hungarian millionaire who profited from buying the country's communist-era electronics manufacturer and busmaker, will start a new television channel and buy a radio station next year to continue his media expansion.
Széles, 60, is Hungary's third-richest man, with a personal wealth of Ft 50 billion ($233 million), according to rankings in Manager Magazin. He began buying up media outlets in September with the purchase of Echo TV and daily newspaper Magyar Hírlap.
Széles also owns Videoton Rt., which made military equipment and radio and TV sets under communism, and Ikarus Rt., the world's largest busmaker before the collapse of the Soviet Union. Vital TV, a lifestyle and entertainment channel costing Széles Ft 300 million, will air in January. Echo TV, a business and general news channel, which Széles spent Ft 2 billion on, started broadcasting last month.