Elan Schwartzenberg bought 90% in Realitatea TV, keeps manager

Businessman Elan Schwartzenberg said, Monday, in a press conference, that he has bought 90% shares in media group Realitatea Media and announced Sebastian Ghita remains the group’s manager, under a five-year contract closed in October 2010, Romanian press informs.

Ioana Vintu, daughter of the media group’s former owner, Sorin Ovidiu Vintu, said her father is no longer involved in the business.

Schwartzenberg didn’t reveal the amount he paid for Realitatea Media, but said the former owner has recovered his investment. He also said he intends to pump Euro 100M in the TV news station Realitatea TV.