A3 Television and TV3 Budapest, two new editions to the Hungarian remote control, are reportedly suffering growing pains as investors re-evaluate the financing and programming content of each network.

Sources told Variety that heated negotiations are now going on between the Hungarian and U.S. owners of A3 Television – the 24-hour music and movie network that began broadcasting in Budapest on Sept. 16. At issue: control and ownership of the station.

HTCC buyout?

A3 president Adam Nemenyi confirmed that negotiations are ongoing between the network’s largest shareholders, the U.S.-owned Hungarian Telephone and Cable Corporation (HTCC), and its Mayer partners. Sources close to the situation suggested that HTCC – which is a majority owner after investing $5 million into the network late last year – is seeking to buy out some or all of the Hungarian owners.

Structure reviewed

Hungarian-based minority shareholders of the station include the film production company Magic Media, television producer NAP TV, and broadcaster Pest-Buda Television.

Nemenyi refused comment on the substance of the talks, but said that a resolution should be reached in the coming week.

TV3 Budapest, A3’s chief competitor in the Budapest market, is reportedly reconsidering its programming mandate and equity structure.

Want Entertainment News First? Sign up for Variety Alerts and Newsletters!
Post A Comment 0