European Media Investment in deal with key local media player in Romania

European Media Investment AG (EMI) affiliated to ARBOmedia AG (Germany) launched a strategic partnership in the mass media sector with the Media Sud Europa group of companies, which edits important local newspapers in Romania, an official EMI press release shows.

EMI representative Silviu Ispas told HotNews.ro that the two groups will jointly set up a new company which will include the operations of both companies. He argued that investments in the future will be made in the name of this common company. Ispas added that the two groups plan to expand the current EMI portfolio to some 20 titles in Romania but they will also consider online and television investments.

The press release reads that the two groups will commonly form one of the strongest press editors in Romania due to financial power owned and of the products offered which enable them to cover an important segment of the market. Moreover, the management of the company will be held by a specialized company, to be run by President will be Bobby Paunescu of Media Sud Europa and by General Director Silviu Ispas.