Swiss media magnate buys Népszava, Szabad Föld and Vasárnapi Hírek

October 21, 2016

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A company registered in Liechtenstein reportedly owned by Swiss media tycoon Jürg Marquard announced on Thursday that it had purchased Hungarian print daily Népszava as well as the media portfolio of the Geomédia group, which includes print weeklies Szabad Föld (Free Soil) and Vasárnapi Hírek (Sunday News), as well as a number of magazines, reports state news agency MTI.

MTI says the company, XXI Century Invest AG, is committed to developing the media portfolio and preserving the spirit of the papers, and that the Hungarian management of Geomédia will continue to be responsible for the operative and technical direction of the papers.

According to J. Zoltán Gál, editor-in-chief of Vasárnapi Hírek, the editorial staffs of Vasárnapi Hírek and Népszava are to be merged, and they are open to hiring some employees of suspended print daily Népszabadság if their “situation is resolved.”