Ringier is asking Ft 1.5 billion for Népszabadság from the Szabad Sajtó (Free Press) foundation of the Socialist Party, plus a minimum five-year contract for printing the daily.
In addition Ringier is asking for an agreement with no time limit on distributing the daily by Médialog, the company owned by Ringier, as well as outsourcing accounting and finance to Ringier, news weekly HVG has learnt.
Ringier would like to sell its 70.8% stake in the leading daily to the foundation, which already has a 27.7% stake. Népszabadság should give back its stake in Médialog to Ringier in exchange for cancelling its Ft 1.6 billion debt to the print shop, HVG adds. Ringier is also offering delayed payment with only Ft 3 million initially and 5% of net revenues between 2015 and 2025 if Ringier prints the paper, or 8% if a different printer is used.
Népszabadság realised Ft 3.8 billion in revenue last year. The foundation is offering a Ft 1.2 billion price or 3% of revenues and a “reorganisation” before the sale, meaning to settle the capital situation of the daily, which has Ft 677 million net capital less than the Ft 1.3 billion registered capital, HVG added.
