The right of publication of Népszava, Hungary’s only remaining left-wing daily newspaper after the closure of its more popular rival Népszabadság last weekend, has been sold by the Swiss-registered TGD Intermedia SA, reportedly linked to the Hungarian Socialist Party (MSZP) and former party treasurer László Puch, to the Marquard Media group.

The change in ownership was announced at a staff meeting, the news site MNO.hu reports, adding that the number of employees affected by the change is currently unknown. The portfolio of the new owner includes magazines such as Playboy, InStyle and Joy.

Next week, the new owners will decide on which members of the 50-person editorial team they plan to employ in the future.

Similarly to other printed publications, the paper has experienced a major drop in its circulation over the previous years, which have seen the implementation of stringent cost-saving measures, several journalists laid off and salaries cut. The paper currently circulates at around 10 000 copies per day nationally, down from 222 000 in 1989.

Published since 1873, Népszava is the country’s oldest continuously published daily newspaper.

On Saturday, the publication of Népszava’s rival left-wing newspaper Népszabadság was controversially suspended by its owner, the publishing company Mediaworks.

via mno.hu

photo: Tamás Kovács/MTI