Romanian IT service provider Asesoft took over the management of media group Realitatea Media, owned by Sorin Ovidiu Vintu, and plans to invest EUR75 million in the business in the next five years. The move was a surprise on Romanian market, considering the last couple of days, there were quite a few rumors regarding the investor that might take over the news TV station.
Asesoft will ensure both the funds and the expertise so that Realitatea Media can switch to high-definition broadcasting.
“Asesoft is confident that the EUR75 million investment it will make in the next five years in modernizing and developing Realitatea Media’s international operations will generate a profit rate of about 35%,” according to a press release, quoted by Mediafax.
Asesoft’s owner, Sebastian Ghiţă, said that Asesoft will get 80% of Realitatea Media’s profit in the next 5 years, the remaining 20% going to Realitatea Media’s management, according to Romanian Daily Gandul.
Also, according to the newspaper, that quotes Mediafax, Asesoft also took over “all the activities related to the good functioning” of Realitatea Media, such as strategy, politics, money, hiring and development.
According to www.realitatea.net, Sebastian Ghiţă met up, on Monday, with Realitatea Media’s employees and told them he intends to develop Realitatea TV regionally, to put all salaries on working card and to increase them with 7%.
As for the editorial policy, it will be handled by the employees. Also, the group will have the same council of administration, that includes Sorin Freciu, Dragoş Stanca and Dragoş Nedelcu.