TV TRIMMING MAY OPEN DOOR TO OUTSIDERS

In a decision that may spell opportunity for U.S. investors with ambitions in the Hungarian media market, the socialist-liberal government of Prime Minister Gyula Horn just announced a dramatic downsizing of the nation’s largest terrestrial network.

State-owned Magyar Televizio (MTV), Hungary’s only national web, will lose 1,000 jobs as a result of this recent government edict, enabling the state to save about $1.7 million a year.

Other upheaval is anticipated. Analysts predict that MTV’s well-organized unions will soon respond by striking. But the firings cannot be implemented without parliamentary ratification, and labor action is not likely, say analysts, until lawmakers meet to vote on the government’s decision.

The ruling coalition’s huge parliamentary majority makes it almost certain that the firings will be rubber-stamped by Parliament.

MTV President Adam Horvath said he will resign if forced to order the mass layoffs.

Horvath argued that his administration already has implemented belt-tightening measures. Two weeks ago, the network announced that the production of in-house programming would be decreased, and that the web would rely more on archival material to fill its daily lineup.

The decision to downsize at state TV is widely seen as an admission that MTV is a luxury that Hungary’s government can no longer afford. With the Horn administration now reeling from budgetary pressures, the likelihood exists that the government will next decide to privatize one of MTV’s two national channels.

Len Fertig, president of Central European Media Enterprises Ltd. (CME), the same company with interests in the Czech Republic’s highly successful commercial network Nova TV, said that the economic “difficulty” Hungary is experiencing could compel the government to sell one of MTV’s frequencies. But nothing is certain.

More Scene

  • Pamela Adlon Better Things

    Pamela Adlon: When 'Better Things' 'Stops Being Relatable Is When I Stop Doing My Show'

    In a decision that may spell opportunity for U.S. investors with ambitions in the Hungarian media market, the socialist-liberal government of Prime Minister Gyula Horn just announced a dramatic downsizing of the nation’s largest terrestrial network. State-owned Magyar Televizio (MTV), Hungary’s only national web, will lose 1,000 jobs as a result of this recent government […]

  • The Future She Built

    Inventor of the Inclusion Rider Discusses Why the Initiative Is Necessary at Panel

    In a decision that may spell opportunity for U.S. investors with ambitions in the Hungarian media market, the socialist-liberal government of Prime Minister Gyula Horn just announced a dramatic downsizing of the nation’s largest terrestrial network. State-owned Magyar Televizio (MTV), Hungary’s only national web, will lose 1,000 jobs as a result of this recent government […]

  • Diablo Cody, Charlize Theron and Jason

    'Tully's' Charlize Theron, Jason Reitman, Diablo Cody on Normalizing the Dark Side of Parenting

    In a decision that may spell opportunity for U.S. investors with ambitions in the Hungarian media market, the socialist-liberal government of Prime Minister Gyula Horn just announced a dramatic downsizing of the nation’s largest terrestrial network. State-owned Magyar Televizio (MTV), Hungary’s only national web, will lose 1,000 jobs as a result of this recent government […]

  • Independent School Alliance Awards

    Charles King, Nina Shaw Toast Tim and Vicky Mara Story at Independent School Gala

    In a decision that may spell opportunity for U.S. investors with ambitions in the Hungarian media market, the socialist-liberal government of Prime Minister Gyula Horn just announced a dramatic downsizing of the nation’s largest terrestrial network. State-owned Magyar Televizio (MTV), Hungary’s only national web, will lose 1,000 jobs as a result of this recent government […]

  • I Feel Pretty premiere

    ‘I Feel Pretty’ Directors Say They Were ‘Disappointed’ After Backlash From Trailer

    In a decision that may spell opportunity for U.S. investors with ambitions in the Hungarian media market, the socialist-liberal government of Prime Minister Gyula Horn just announced a dramatic downsizing of the nation’s largest terrestrial network. State-owned Magyar Televizio (MTV), Hungary’s only national web, will lose 1,000 jobs as a result of this recent government […]

  • Levis Coachella brunch

    Coachella 2018: The Biggest Celebrity Appearances and Surprise Performances of Weekend 1

    In a decision that may spell opportunity for U.S. investors with ambitions in the Hungarian media market, the socialist-liberal government of Prime Minister Gyula Horn just announced a dramatic downsizing of the nation’s largest terrestrial network. State-owned Magyar Televizio (MTV), Hungary’s only national web, will lose 1,000 jobs as a result of this recent government […]

  • Coachella Music and Arts Festival

    The Politics Behind Beyonce’s 2018 Coachella Performance

    In a decision that may spell opportunity for U.S. investors with ambitions in the Hungarian media market, the socialist-liberal government of Prime Minister Gyula Horn just announced a dramatic downsizing of the nation’s largest terrestrial network. State-owned Magyar Televizio (MTV), Hungary’s only national web, will lose 1,000 jobs as a result of this recent government […]

More From Our Brands

Access exclusive content