freelogoOur objective is to provide English speaking readers interested in Hungary with a well balanced view of political activities in Hungary by featuring contents from various printed and online sources together with our own commentaries. We are convinced that Hungary is built on all sorts of different ideas, thoughts and opinions and, despite of the new Media Law, our aim is to provide an alternative and reliable source of information – contrary to the one-sided press of the government – for those who want to hear the voice of a free Hungary.

Hungary's Opimus acquires Nepszabadsag

Hungarian holding company Opimus has acquired the publisher Mediaworks from Austrian businessman Heinrich Pecina's Vienna Capital Partners, the company said in a statement on Tuesday, bringing the company into government-friendly hands. In response to the scandal, Freedom House issued the following statement: "The suspension and sale of Nepszabadsag show the government's growing influence over Hungary's media. Hungary's government uses ownership as a political tool to silence critical coverage. The EU and the United States should forcefully condemn this attack on the press."

Opimus Press, which was established via a HUF 6 billion private placement bond issue by the parent company Opimus in March, along with several other new Opimus companies, is very close to Lőrinc Mészáros, a friend of Prime Minister Viktor Orbán who had been his gas man before he became the mayor of Orbán's hometown Felcsút and one of the country's richest people.
On paper, Mediaworks is still owned by Austrian investor Heinrich Pecina and private equity firm Vienna Capital Partners (VCP). Local weekly HVG reported that Pecina and VCP representatives held talks in Budapest last Tuesday, although there was no confirmation that the sale of Mediaworks was on the agenda or not.
The Mediaworks portfolio includes a popular sports magazine (Nemzeti Sport) and 13 freshly acquired regional dailies that each cover about one of the country's 19 counties. These are published by Pannon Lapok Társasága. The unit bought by Mediaworks has annual revenue of HUF 8 billion and is a key weapon in the media arsenal of the ruling Fidesz party.
Mediaworks abruptly closed down the country's largest political daily, left-leaning Nepszabadsag, earlier this month, and local media had speculated the company might be sold on to Opimus, a marginal player on the Budapest bourse.
The closure of Nepszabadsag reignited criticism of Prime Minister Viktor Orban, who has limited press freedoms with a media law and whose associates have built a sprawling network of news outlets, taking over old titles and starting new ones.


Last Updated on Wednesday, 26 October 2016 06:50

Breaking news



Written on 21/12/2017, 21:09 by admin
jerusalemJerusalem, the eternal capital of the state of Israel and the Jewish people, finally got the official recognition which was overdue for decades....
Written on 13/09/2017, 20:13 by admin
guest-post-eu-and-orban-two-good-friendsThe decision of the European Court of Justice, according to which Hungary should accomodate more than one thousand refugees is at the same time appaling...
Written on 06/10/2016, 19:58 by admin
guest-post-the-day-after-the-referendumThe much anticipated referendum about the resettlement of migrants in Hungary was declared invalid, however, those who voted overwhelmingly rejected the...
Written on 23/06/2016, 06:31 by admin
disintegration-or-something-else-gyurcsany-s-solutions-to-the-ills-of-western-democracies  Something has gone wrong. Quietly, but ever more noticeably, more and more people in more and more places are in revolt. In the American...
Written on 06/04/2016, 19:20 by admin
how-germany-and-its-leftist-liberal-supporters-killed-solidaritySolidarity. This is the word that is probably is the most used and misused term in European politics. Its original meaning is supposed to mean to show...
Written on 23/03/2016, 20:30 by admin
the-orban-regime-can-only-end-in-failure  Change in the Orbán regime is only possible in the event of its downfall, so ruling Fidesz either becomes successful with its current set of...
Written on 23/03/2016, 20:20 by admin
anger-or-resignation  No matter how hard Mr Orbán is trying to get rid of his old cronies, he just cannot get rid of himself. He is too old for his system. The...
Written on 14/01/2016, 20:51 by admin
europe-s-new-yearThe European continent had a very difficult year in 2015, but that may be dwarfed by 2016. The most heated issue will be, without a doubt, the migration...
Written on 09/12/2015, 14:16 by admin
the-secret-diaries-of-viktor-orban-nov-dec-2015November 14th 2015I awoke to the shocking news about the Paris attacks last night. Words cannot express my feelings of shock.It turns out that one of the...
Written on 12/11/2015, 14:31 by admin
spies-in-the-newsroom   According to a new scheme, the government might place spies in the newsrooms, to have a better view of what is being written. This all...
Joomla templates by Joomlashine