Mediafax Group files for insolvency

Newsroom 28/11/2014 | 14:06

Mediafax Group, owned by media mogul Adrian Sarbu, has filed for insolvency at the Bucharest Court.

The request was registered on November 28 but so far the court has not set a term for the case evaluation, according to

Mediafax Group. which includes Mediafax newswire, the website, the magazine Business Magazin and the business daily Ziarul Financiar, posted in 2013 a turnover of EUR 17.5 million and losses of EUR 2.6 million.

This is the last in a series of financial problems that Mediafax Group has been going through lately.

In September, Mediafax Group clients received notifications from The National Agency for Fiscal Administration (ANAF), in which the authority informs them it has placed levy on their accounts, due to the debts that Mediafax Group must pay to the Romanian state.

Also, Orlando Nicoara, head of Mediafax Group resigned from Mediafax Group, effective starting January 1, 2015, according to journalist Catalin Tolontan.

Otilia Haraga



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