New Czech Ownership of Central European Media Should Boost Profits, if Not Reputation

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The completion of Czech billionaire Petr Kellner’s buyout of broadcast network Central European Media Enterprises (CME) from AT&T has raised hackles in the Czech Republic.

) has raised hackles in Kellner’s native country, where a healthy suspicion of media moguls has been fueled by the prime minister’s own online and print holdings.

Czechs have become suspicious over “the influence of large financial groups on the media, news and journalism,” Jilcik adds, with most major media outlets in the country owned by such companies. It’s likely that journalists for CME news organizations “will leave them for small but independent media,” Jilcik predicts.

“PPF Group is not used to losing and will go hard on the profitability of the whole CME,” Jilcik says. “They will pay for and attract highly experienced managers in the TV business in Central Europe.” Other commentators have cited similar concerns about media influence, noting that Czech Prime Minister Andrej Babis, whose group Mafra owns major daily newspapers Mlada fronta dnes and Lidove noviny, made similar assurances that he would respect objective reporting when he was elected in 2017. The publications have since taken heat for a seeming reluctance to cover Babis aggressively, or the mass anti-corruption protests against him in the streets of Prague.

 

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