UPDATED: Cristian Burci signed to take over Adevarul Holding

PaginadeMedia: Cristi Burci signed to take over Adevarul Holding, paperwork to be finalized in 10 days

PaginadeMedia.ro published an exclusive interview with Cristi Burci, with the business man saying he signed a Head of terms to completely take over Adevarul Holding and that, in around 10 days, the paperwork will be finalized.

The negotiations for Adevarul Holding’s take over started Monday afternoon and ended Tuesday at 3AM,  lasting around 20 hours. The financial terms of the agreement weren’t unveiled.

According to the interview, Burci started the negotiations with Dinu Patriciu last week. Even with the take over, Petre Imre will continue to be General Manager at Adevarul Holding.

When it comes of company’s debts, Burci says those will be recalculated, rescheduled and paid. Related to salaries, Burci said that they will also be paid in the next period, but also mentioned that the deal has to be signed and officially approved by Competition Council. However, he added that any money that will be paid until the transaction will be finalized will go on operational costs, salaries, paper and so on.

Within Adevarul, Burci wants to also develop a TV station, but after evaluating first how everything is and works within the trust.

About break-even, Cristian Burci hopes that will happen in the next 6 months and estimates the payment of the historic debts will happen in 1 to 3 years.

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Cristian Burci, founder of Romanian TV and radio stations Prima TV & Kiss FM and of the communication group Graffiti BBDO Group Romania, took over Adevarul Holding, media trust founded by Romanian business man Dinu Patriciu, as Reporter Virtual writes and other Romanian publications quote.

According to Reporter Virtual, Cristian Burci took over Adevarul Holding – with publishing houses, printing houses and all titles – and will also integrate with it Razvan Ionescu’s online platform. On the other hand, sources informed the same media outlet that Burci will split Adevarul press group with Arpad Paszkany, that wants to take over at least 2 products of the holding.

Wall-street.ro relays the same info, mentioned that, when it contacted Petre Imre, General Manager Adevarul Holding, he said that he doesn’t want to make any comments on this subject. The publication also writes, quoting sources inside Adevarul Holding, that Cristian Burci was seen on Monday at Adevarul Holding’s headquarters in Pipera, where he was accompanied by Petre Imre and spent a few hours, visiting also redactions from more publications.