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April 24th, 2014

Sanoma agrees to sell Hungarian media unit to Central Csoport

Finnish media company Sanoma has signed an agreement to sell its Hungarian media unit, Sanoma Media Budapest, to Hungary’s Central Csoport, a financial services firm, Sanoma told MTI on Thursday.

The media house said that the company will realise capital gains of nearly 11 million euros as a result of the transaction, which is subject to final approval from Hungary’s Competition Office (GVH).

Sanoma, which controlled several lifestyle magazines and two TV cable channels, said that the sale of Sanoma Media Hungary is part of the Finnish media company’s restructuring strategy.

Sanoma has been present in Hungary since 1992. Its media companies in Hungary generated revenue of 60 million euros in 2013.

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  • Democrat

    Another foreign investor checks out.

    • ViktorZoroban

      Last thing Hungary needs is foreign investment!

      • Hungarian

        Last thing Hungary needs is another 100,000 “foreigner”…

        • ViktorZoroban

          Yes, our Proud Government should abolish the Schengen agreement and forbid Hungarians to travel and work abroad as no Hungarian should miss the Fairytale.
          At the same time they should forbid tourists to visit our Holy Nation. We don’t need Brits or Germans – we have enough funny drunks ourselves already. Hungary for Hungarians!

          • wolfi

            And of course they should forbid that Hungarians marry foreigners or have sex with them – that dilutes the proud Hungarian race!

            Maybe His Serene Highness, Charismatic and Extremely Good Looking Prime Minister Viktor the First will make an exception for old couples where the risk of procreation is minimal …

          • Vidra

            May I respectfully suggest that marriage with foreigners should be encouraged (but only between men and women, no going back to traditional Hungarian pairings or forward to perverted Western abominations), but that the feudal system is reintroduced, and all except Fidesz politicians (our new overlords) and priests (of course) are tied to the land in perpetual servitude?
            That will obviously win the Jobbik “blood and soil” vote too(though they won’t be allowed to vote, of course) and see the revival of a new, labour-intensive, ignorance-based agricultural Hungary that will be copied from theTisza to the Amur River!

          • wolfi

            Yes, a return to the good old Horthy times when less than half the population was allowed to vote – who needs democracy when you can raise pigs for his Serene Highness … (you can add the rest yourself)!

          • Hungarian

            you are not getting the point here meine freund.
            I am not talking about those hard working foreigners whom you think I am mentioning.

            I am talking about another 100,000 Jews poised to settle down in Hungary after they fucked up their safety in the middle east through their aggressive land grab programs…

          • Vidra

            Oh nooo! Who told you this? The voices again?

          • Hungarian

            Just 100,000 of you guys, and we are having this conversation.
            I wonder what Hungary would have looked like with 700,000 Jews….

          • Vidra

            I don’t think there are as many as 100.000 otters in Hungary, and where do you get the notion of “another 100,000 Jews poised to settle down in Hungary”?

          • Hungarian

            Watch echo TV sometimes for a change…

          • Vidra

            And spoil my back-to-back nature programmes? Online is for information, TV is for entertainment in my drainage ditch.

          • Hungarian

            You can watch it on the net after you finished watching nature in your restroom…

    • Hungarian

      Yep, they had 60 million reasons to check out just in 2013.
      Big bravo to your interpretation.

  • Vidra

    Who the feck is Central Csoport? Their website doesn’t seem to have been touched in some 7 years and Sanoma doesn’t give any useful info either – a Fidesz front, perhaps?

    • Hungarian

      Why do you care?
      Till yesterday I bet you didn’t even know about sanoma…

      • Vidra

        Of course I did – fixed up some exchange advertising with them and tried (and failed) to do a deal on using their photo library back in the old days. I just find it a bit worrying when parts of the Hungarian media (TV2, now this) are sold off to companies that aren’t transparent.

        • Hungarian

          Fidesz leads 2/3rd even without them.
          So what’s your worry?

          • Vidra

            You don’t care if, say, Central Csoport is a front company for Israeli businessmen?

          • Hungarian

            That I would be concerned about.
            Your sources?

          • Vidra

            It’s a hypothetical question! But at least you understand the point now – if media owners aren’t transparent about who owns them, how can we be sure that they don’t have a hidden political, religious or moral agenda?

          • Hungarian

            Hypothetically speaking, I would be disgusted if Israel buys anything in Hungary on its Palestinian blood money.

            Peace first, business second.

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