B92 - News - Region - Romanian billionaire to invest in media?
10 December 2009 | 09:47 | Source: Beta
BUCHAREST -- Sorin Ovidiu Vantu, owner of Realitatea-Catavencu Media Group, will launch three TV stations in Serbia, Hungary and Moldova.
This is according to a Romanian news agency Mediafax report.
Vantu announced that he would open three TV stations in Serbia, Hungary and Moldova in 2010, because he no longer believed that the print media were efficient and profitable at the moment.
The Romanian Media Group owner has decided to invest in electronic media – internet, radio and TV, 'which have a future'.
He said that he would continue to support his newspaper Cotidianul in lower circulation but that he would not invest in its further development.
Vantu pointed out that the television he was planning to launch in Serbia would have elements of his TV stations Realitatea and The Money Channel, meaning that the program content would be somewhere between economical and political.
Vantu is described as one of the wealthiest Romanians with an estimated fortune of EUR 1.2bn. He does most of his business abroad.
His media company includes two TV stations, a radio stations, NewsIn news agency, National Institute for Opinion Surveys and Marketing (INSOMAR), a daily and a weekly newspaper and a magazine and the company mainly deals with commercials and real-estate."
