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March 23, 2023

Patriciu puts ‘Click’ and ‘Adevarul’ on auction block

An auction was held yesterday for the sale of Adevarul Holding, Click!, TV Click and Click FM, amid  Acsis Solv IPURL, judicial liquidator of Odyssey Communication, demanded the payback of a debt Adevarul Holding owes to an advertising agency.Odyssey, a company owned by Patriciu, became insolvent early this year. Odyssey holds a EUR 3.5 M receivable owed by Adevarul Holding and representing the equivalent of rendered advertising services, adding to which is trial expenses worth EUR 2,200 and forced execution spending equal to EUR 45,000.The financial troubles experienced by the Patriciu trust led to major employment-related problems. Two weeks ago, Simona Ionescu, deputy editor-en-chief at ‘Click’ left the tabloid for a similar yet better paid job with ‘Evenimentul Zilei’. Back then, she told ‘Ghimpele’: “We’ve had a talk if I were to join them, I was suggested. I have pondered for about one month and I took the decision to go back (…) I come from a trust where what made me leave was the financial situation in the past couple of years.” The asking prices, according to the document obtained by Paginademedia.ro for Patriciu-held brands are as follows: Adevarul Holding: EUR 4.5 M, Click!: EUR 170,000, TV Click!: EUR 50,000, Bucharest 106.2 Click FM radio: EUR 2,000, Click! FM: RON 9,000 (EUR 2,000). Patriciu brands are not the only ones facing financial difficulties. Shortly after the change in Government, the media trusts known for its leanings to the former government, began feeling the crisis pinch, with many such companies going bust.

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