"TISAK'S" REPRESENTATIVES, CREDITORS AND PUBLISHERS MEET

ZAGREB, Jan 21 (Hina) - Six Croatian media publishers, representatives of creditor banks and representatives of the "Tisak" distribution company" met Thursday to hold talks. The publishers suggested that banks overtake Tisak's stock worth the amount which the distribution company owes them, and thus become major stock holders of the company. The publishers then left the meeting, leaving bankers and Tisak's representatives to discuss the future of the company. Unable to pay regularly for sold press, Tisak, which distributes some 75 percent of all daily and other printed media in Croatia, brought Croatia's press in a difficult financial situation. The media are unable to pay their debts to printers who announced they would stop printing newspapers and magazines. Tisak owes banks, the "Rovinj" tobacco company and the Croatia insurance company some US$59.35 million. This is a short-term debt. Tisak also owes publishers about US$15.62 million. The distribution company's management board, whose representatives held talks with Prime Minister Zlatko Matesa on Wednesday, suggested that banks settle the debts by taking hold of stock in the company. In order for this suggestion to be accepted, banks creditors must agree on the issue, after which Tisak's assembly would have to determine proportionate shares in the company. Tisak's plan was accepted by representatives of the Privredna Banka Zagreb and the Postanska Banka. Director of the Vecernji list daily, Branko Lovric, told reporters that publishers would decide on further action when bankers and Tisak's management board reach and agreement. (hina) lml