News
WAZ Media Group Sells Its Bulgarian Assets to BG Privatinvest16.12.2010Sofia, December 14 (BTA) - The Bulgarian subsidiary of Vienna-based BG Privatinvest has bought all assets of Germany`s WAZ Media Group in Bulgaria, Trud.bg says.
Under an agreement signed on Monday, the buyer acquired the "Troud" and "24 Chassa" dailies, the "168 Chassa" weekly and magazines, as well as a printing house and the Strela distributing company.
BG Privatinvest has been set up in Austria for the purpose of investing in Bulgarian media. Its founders are Karl Habsburg (chief executive), Daniel Rutz and Hristo Grozev (who runs the Bulgarian subsidiary). The three have experience in media investment in various countries and own electronic and print media in the Netherlands. They have attracted Ognyan Donev and Lyubomir Pavlov as partners in their Bulgarian venture.
WAZ entered the Bulgarian market by purchasing "Troud" and "24 Chassa" in 1997.
Trud.bg quotes Habsburg as saying that independent and free media are particularly important in a democracy. He expresses his belief that he and his partners, as strategic investors with considerable media experience in Central and Eastern Europe, can play their role in ensuring media pluralism in Bulgaria. Grozev adds that their goal is not only to preserve the leading position held until now by WAZ, but also to guarantee the freedom of speech in Bulgaria.
Source: BTA /Bulgarian News Agency/