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Realitatea Media changes hands

Realitatea Media has signed on Monday a five-year management contract with Asesoft Group’s media division. Asesoft is a company led by businessman Sebastian Ghita. Realitatea.net officially communicated the signing of the management contract, pointing out that it stands at EUR 75 M. The source points out that Sorin Ovidiu Vintu remains a shareholder and quotes him as saying, during a meeting with Realitatea employees, that “I am interested only in profit” and that he wants to regionally expand Realitatea TV. Asesoft will get 80 per cent of Realitatea Media’s profit, while Realitatea will get the remaining 20 per cent, Sorin Freciu, president of Realitatea Catavencu’s Administrative Board, stated for HotNews.ro. He also pointed out that negotiations with Asesoft “have taken place for several months.” Asesoft will put at the disposal of Realitatea Media (owner of Realitatea TV, The Money Channel, Realitatea FM and Radio Guerilla – editor’s note) both the sums needed to switch to HD broadcasting and professional expertise. According to Forbes 500, Sebastian Ghita has a fortune of EUR 36-38 M and has businesses in the IT, online retail, wine making, real-estate and mass-media sectors. In September this year Asesoft took over 60 per cent of Flanco’s shares. Asesoft’s turnover stood at approximately EUR 300 M last year and for this year Sebastian Ghita stakes on a turnover of EUR 350 M. In 2009 Realitatea Media reported losses of RON 165.4 M and a turnover of RON 127 M according to the data published by the Finance Ministry and quoted by HotNews. Last Friday the negotiations businessman Cristian Burci was taking part in, in order to buy Realitatea TV, were in an advanced stage. However, according to paginademedia.ro, negotiations between Sorin Ovidiu Vintu and Cristian Burci broke down on Sunday night.

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