State broadcaster Magyar Televizio is on a financial roll, having finished 2006 without a loss for the second consecutive year.
MTV, which dominated the Hungarian airwaves in the mid 1990s, saw its ratings and market position dwindle after commercial terrestrial webs RTL Klub and TV2 opened up. MTV still lags in ratings, but shrewd decisions about its assets have helped it recoup millions in losses.
On Monday, state privatization agency APV agreed to relinquish its claim of $10.4 million against MTV for unpaid rent on the network’s opulent offices at Szabadsag Square. MTV is vacating the palatial building after plans were announced to sell it to a Canadian development company and to move the public network to premises outside the city center.
Net recently received $7.8 million as the first installment in the sale of its complete library to the State Audiovisual Archive for $23 million.
MTV is earning back auds with a popular evening news program and a primetime lineup centered around popular theatrical releases.