American financial investment group iEurope will become the owner of a 76 percent stake in private Radio Twist, a deal that the broadcasting council RVR preliminarily approved on October 22.
The company would invest an initial sum around $11 million (€9.45 million) in the radio, news wire TASR reported.
According to RVR Chair Valeria Agócs, the company, which wants to create a "pan-regional" radio in central Europe, chose Twist due to the fact that it already broadcasts in the Czech Republic.
iEurope plans to create one big holding company in the region comprising the Czech Republic, Slovakia, Austria, Slovenia, Croatia, and Romania and plans acquisitions of radio stations in those countries as well.
"iEurope is a financial investor and will not intervene in our broadcasting schedule at all," said former 100 percent owner of the station, Andrej Hryc, who will be left with the remaining 24 percent.
Twist, currently broadcasting in Prague to about 2.5 million potential listeners, plans to expand throughout the whole Czech Republic with the help of iEurope. Though it now broadcasts its Slovak programme from Prague, in the future both languages should be heard on the radio.
Compiled by Martina Pisárová from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.
22. Oct 2003 at 11:46