Investments, Latvia, Markets and Companies

As reported, the management of the media enterprise Mediju nams have bought 100% of the company's shares, as Puce informed the business portal "Nozare.lv" yesterday.

January 7, the company MN mediji, established by the Mediju nams management, bought 100% of Mediju nams shares from Lasco Investment.

Puce explained that Mediju nams management viewed the deal as an opportunity that must not be wasted. He went on to say that quality journalism would always remain a competitive product in Latvia.

MN mediji belongs to Mediju nams board members Puce and Lilita Seimuskane, and the Analytical Department head Uldis Dreiblats, who each hold 33.33% of MN mediji shares.

The amount of the deal was not disclosed. Mediju nams itself was used as security against a loan that MN mediji took in a commercial bank to buy the company.

Mediju nams publishes newspaper "Neatkariga Rita Avize Latvijai", magazines "Maja", "Vakara Zinas", Sporta Avize", it also owns the Internet news portal "nra.lv".

Anita Daukste, editor in chief at Neatkariga Rita Avize, one of the largest daily newspapers in Latvia, said that the deal would have no effect on the newspaper’s editorial policy whatsoever. The newspaper’s editorial board is fully independent from the owners of the newspaper, and the fact that Mediju nams has a new owner now will not change the work of the editorial board in any way, Daukste said.