Waz manager: Withdrawal from Romania due to distorted market, media oligarchs

German media group Waz, which has recently said it would exit from several markets in the Balkans area, Romania included, was disappointed by the region, according to a statement made by its president Bodo Hombach, for Deutsche Welle. Moreover, Romanian media reports that Waz' partner in Romania Libera media company in Romania, Romanian businessman Dan Adamescu, has bought Waz' share package in the business and thus remained sole owner. Hombach said the Romanian media market is distorted and that media publishers have major difficulties in sustaining a serious media company. He mentions the oligarchs buying newspapers and magazines not as a way to make money, but rather to obtain political influence, which affects the market. The Waz manager has underlined the artificial media market readership increase, through mechanisms such as prizes, raffles and other games, which distort the market. He also said he got an offer for its media business in Romania from a “serious businessman”. Waz owns shares in Romania Libera daily newspaper, through a partnership Nova Group. The two companies together hold with Medien Holding. Medien Holding owns the United Print printing house, Hiparions Magazines, Grupul Roman de Presa and CMP branding and communication agency. The WAZ Media Group, based in Essen, is one of the largest European media groups. 30 daily and 19 weekly newspapers, 189 special-interest and trade magazines, 100 advertising papers and 400 customer magazines belong to the group. In Germany, the group publishes 10 daily newspapers in North Rhine Westphalia, Thuringia and Lower Saxony.