Schwartzenberg Acquires Realitatea Media

By Iulia Blaga

    BUCHAREST: Romanian-Israeli businessman Elan Schwartzenberg increased his media position, buying 90% of the shares of one of the most important Romanian TV channels, Realitatea TV (www.realitatea.net) from Sorin Ovidiu Vântu. He announced that he has access to funds and investments up to 100 million euro in order to support and sustain the company.

    In October 2010, The company Asesoft (www.asesoft.ro) took over the management of Realitatea Media, part of the group Realitatea-Caţavencu (www.gruprc.ro) and includes Realitatea TV, The Money Channel (tmctv.money.ro), Realitatea FM (www.fm.realitatea.net) and Radio Guerrilla (www.radioguerrilla.ro).

    In early 2011, Elan Schwartzenberg purchased a 10% stake in News Television Romania, a company that owns 50% of another local channel, B1 TV (www.b1.ro).