The Money Channel – an economic and financial TV station, part of the Realitatea Media group – will break away from the management contract between the group and Asesoft company on June 1, and will be managed by Realitatea Media Board members Dragos Nedelcu and Sorin Freciu (photo), Mediafax announces. “There is an agreement that allows us to manage The Money Channel, which however stipulates nothing about property,” Freciu explained. According to the same source, the new managers will not make layoffs, as the team already is very small, and they might even hire some personnel. The decision to renounce the Asesoft management has been made jointly with the new owner of Realitatea, Elan Schwartzenberg.
The Media Advertising & Sales company is 95 pc controlled by Freciu, according to data provided by the Commerce Registry. The Money Channel is the only business television in Romania. Nedelcu and Freciu also secure the management of the economic magazine Money Express.