Hungarian Daily Népszava Nears The Brink Of Collapse
- 25 Jun 2014 9:00 AM
Népszava can survive for only two more months because its Swiss owner TGD Intermedia has informed the editorial staff that it cannot finance the 140-year-old newspaper any longer. Editor Péter Németh told reporters on Tuesday that the left-wing daily needs another 10,000 subscribers or an additional Ft 10-15 million a month to ensure its survival.
Népszava is filing a criminal complaint alleging misuse of public funds and abuse of office, alleging that the government only buys advertising space through state companies in right-wing newspapers.
Director Elza Láposi said Magyar Hírlap with a circulation of 7,400 and Magyar Nemzet with a circulation of 37,000 received Ft 1.5 billion worth of state advertisements from early 2013 to July 2014, while Népszabadság with 45,000 and Népszava with 14,000 received only Ft 120 million.
The newspaper is partly owned by its employees.
Source: Hungary Around the Clock
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