Businessman Elan Schwartzenberg Bought 90% In Realitatea TV, Keeps Manager

Businessman Elan Schwartzenberg told a news conference Monday he has bought in media group Realitatea Media and Sebastian Ghita remains the group’s manager, under a five-year contract.

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Ioana Vintu, daughter of the media group's former owner, Sorin Ovidiu Vintu, who is currently under arrest on charges of blackmail, said her father is no longer involved in the business.

"My brother and I have sold all our shares in Realitatea Media to Elan Schwartzenberg," she said.

Schwartzenberg declined to state how much he paid for the deal but said the former owner has recovered his investment. He also said he has access to funds and investments of EUR100 million to pump into the TV news station Realitatea TV.

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