Intact media group in Romania moves two more magazines exclusively online
Romanian media group Intact has decided to stop printing its weekly business publication Saptamana Financiara and the women magazine Felicia and publish them exclusively online. The steep drop in revenues from print advertising was the main reason for the decision. The media company will invest in sfin.ro, fin.ro and revistafelicia.ro and have dedicated teams for these online products, it has announced. The group's daily business newspaper Financiarul has been previously also moved online.
Saptamana Financiara was launched in 2005, while Felicia, in 2006. Fin.Ro Magazin was initially a monthly business publication in print with its first edition in September.
Intact group will restructure its business, moving all print products under Intact Publishing, while its TV business will go under Antena Group.
The group runs the Antena 1, Antena 2 and Antena 3 TV stations in Romania, as well as Radio ZU and daily newspaper Jurnalul National. The group is owned by the Voiculescu family. Dan Voiculescu is also the head of the Conservative Party.
The flight of print publication to the online world has become a trend in Romania, following the example of publications in Western Europe and the US, as many publishers struggled to keep their print businesses afloat due to the drop in advertising revenues. Gandul daily newspaper, published by Mediafax Group, moved online in spring this year, while daily newspaper Cotidianul has also moved online.