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en/hungary-closing-of-nepszabadsag-opposition-newspaper-raises-concerns-about-freedom-of-press-expression#c145195

response by Mediaworks/VCP

Author: Mediaworks, Published on: 13 October 2016

On 30 September 2016, Mediaworks acquired PLT. The company is now a truly regional publisher with a strong national foothold in sports and magazines. These days, the company's Budapest operation is moved to a newly refurbished and cost-efficient headquarters in Bécsi út 122-124, Budapest (the Népszabadság building), which has more than 400 work places. This promises to provide stable economic conditions, which is the best guarantee for journalistic excellence. Despite revenue growth and management’s cost-cutting measures, Népszabadság has so far been unable to achieve economic success, and management’s priority must be to resolve this, finding the best future business model. Operating under its current business model, Népszabadság is adversely affecting the performance of the whole group and will continue to do so in the long term, unless it is put on a completely new footing. The long-term future of the group and of more than 1,000 employees, as well as the group’s publications, depend on the editorials, readership and economic success....

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