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Hungary govt to buy public television building for HUF 22 bln

The purchase of the headquarters of public broadcaster Magyar Televízió will cost taxpayers net HUF 22 billion, chairman of the board of the Public Service Public Foundation László Balogh and communications manager of the Media Service Support and Asset Management Fund (MTVA) László Szabó announced on Thursday.

The gross price is one-fourth or one-third of the gross HUF 130 billion Magyar Televízió would have paid in rent over 40 years under the original contract, Balogh said.

MTVA has 18 months to buy the headquarters, Szabó said. The fund will take out a bank loan to finance the purchase, he added.

The government earlier announced plans to review and buy out public private partnerships (PPP).