The management of Romanian media group Realitatea-Catavancu announced in an internal note on Wednesday plans to launch a TV station in the Republic of Moldova and further investment plans for the period of downturn. It also announced officially the return of its former president, Sergiu Toader, who will stay with the group as project manager for five years.
Realitatea-Catavencu operates news channel Realitatea TV as well as a series of publications, radio stations, Internet websites and projects and a network of local TV stations. The group, controlled by businessman Sorin Ovidiu Vantu, has been going through a long series of crisis measures that saw salary cuts lay-offs and resutructuring decisions among its entities for several months.
Group chairman Emil Hurezeanu wrote in the internal note that developing and strengthening electronic media (online, radio, TV) would be priorities for the upcoming period, while the focus for print media will be to optimise income.
He also wrote that the group would soon start preparations to launch a national TV channel in the Republic of Moldova, which would use resources in that country. The group will also start the digitalisation of its stations and by the end of the year three new local stations will be launched in Iasi, Galati and Constanta.
He wrote that Sergiu Toader, who served as president of the group until he left for New Zealand early this year, would join the management team as project manager for the whole group for a period of five years.