Update: Dinu Patriciu to expand media group with EUR 37 mln Adevarul TV network

Update: Adevarul Holding, a media company owned by Romanian businessman Dinu Patriciu (in picture), has received the license to start a generalist TV station called Adevarul TV and a network of 40 local stations, all with an investment of EUR 37 million. The media company submitted a request to receive a license to start its own TV station, Adevarul TV. It will be a generalist TV station with a planned investment exceeding EUR 10 million, according to the documentation submitted to the Romanian Audiovisual Council (CNA). The media company already built its TV studio last year, in which it has invested EUR 1.1 million. The TV station will broadcast via satellite 24 hours a day, seven days a week. The media company is yet to announce when the new TV station will start broadcasting. Adevarul Holding is planing to become an integrated media company, already holding businesses on the print media and online media segments. Alexandru Sassu, the former head of the state-held TV station TVR, is the new general manager of the radio and TV division with Adevarul Holding. Adevarul Holding runs several print media outlets: quality daily Adevarul, Adevarul de Seara, tabloid Click!, magazines OK!, Dilema Veche, Dilemateca, Foreign Policy Romania, the Blick newspaper in Ukraine, Forbes Romania magazine and Tango magazine. It also runs a book publishing division. Dinu Patriciu's businesses range from these media investments, to real estate and retail, with the Mic.ro neighborhood stores chain and MiniMax Discount. Dinu Patriciu used to own oil and gas company Rompetrol, which it sold in 2007 to KazmunaiGaz. Romania-insider.com (photo source: Agerpres)