The broadcast frequency license of Class FM, a radio station previously owned by Fidesz oligarch-in-exile Lajos Simicska, formally expired on Sunday, silencing Hungary’s only nationwide commercial radio station.

Class FM was acquired by Simicska seven years ago in a scandalous manner. The irony of the situation is that Class FM was recently purchased by the owner of Sláger Rádió, the radio station whose frequency was awarded to Class FM seven years ago.

Class FM’s new owner, Michael McNutt, is currently suing Hungary’s Media Council because his newly-acquired radio station lost its frequency. Until the lawsuit is concluded, the Media Council is not allowed to issue a tender for the now vacant frequency.

According to print weekly Figyelő, government film commissioner and Hungarian casino magnate Andy Vajna is well poised to take advantage of the regulatory dispute.

Figyelő reckons that Class FM’s frequency is worth about HUF 500 million. But Vajna’s Rádio 1 simply paid HUF 17 million for a Budapest broadcast license (giving it access to 500,000 listeners in the capital city), and another HUF 57 million to regional radio stations as part of a syndicated agreement, thereby granting it access to another 2 million listeners.

Source: The Budapest Beacon

Republished with permission