Romanian Media Group Owner Vantu Says Will Discard Print Media

In the interview with HotNews, Vantu said he no longer has any confidence in print media and will discard it, focusing on online media.

"I will discard print for good and go with electronic media only. I'm willing to invest what's necessary to keep my online market share and even increase it," said Vantu, adding that by electronic media he means websites, radio and TV.

Vantu also said his media group plans to open three TV stations next year on the Republic of Moldova, Hungary and Serbia. He added the future TV stations will focus on a mix of politics and business news.

There were media reports Tuesday that Vantu's Realitatea group is facing financial difficulty, which may lead to restructuring. Group president Emil Hurezeanu told newspaper Evenimentul Zilei the restructuring process may also target the group's news agency, NewsIn, but no firm decision has been made yet.

Vantu said ever since mid-August that he no longer believes in print media, but said he would keep newspaper Cotidianul, even if it is to resort to much lower circulation.

"The market decides the fate of print. As with any business, you go where you have a chance at growth in the future. I no longer believe in print (...)," Vantu said.

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