Hungary Networks’ Unclear Ownership

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.

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