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JOJ Media House set to take over "Novi List" daily

ZAGREB, April 12 (Hina) - JOJ Media House, which describes itself as a leading media company in central and east Europe with subsidiaries in Slovakia, the Czech Republic and Austria, is about to acquire an 80.3% stake in the Rijeka-based Novi List daily newspaper, and according to the management of the newspaper publisher, the signing of the contracts "is under way."

Ahead of the takeover by the new owner, the Novi List management on Tuesday released a financial statement on the Financial Agency's web site, and the report shows that in 2015 Novi List's revenues fell to HRK 76.2 from HRK 86.3 million in 2014.

According to the report, the daily's expenditures were cut from HRK 114.4 million in 2014 to HRK 77.8 million, and the loss at the end of 2015 was HRK 1.67 million.

The financial report, signed by Management Board chair Neven Klarin, reads that since the pre-bankruptcy settlement reached in December 2015, the daily has been managing to service its liabilities as they fall due.

JOJ Media House said in a press release last week that agreement about the takeover of Novi List and the newspapers Glas Istre and Zadarski List had been hammered out.

The president of the board of directors of JOJ Media House, Richard Flimel, was quoted as saying that they wanted to ensure necessary conditions for the further development of those media outlets, with full respect for the present editorial policy.

JOJ Media House employs some 500 workers and its consolidated profit in 2014 was EUR 142 million, according to the company's press release.

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