State is taking over the Novosti company?

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A reorganization plan has been adopted at the Commercial Court in Belgrade whereby the state can officially take over ownership of the media company Novosti, BIRN has found out.

The Novosti company is one step away from being officially returned to state ownership, after the Commercial Court in Belgrade adopted the reorganization plan on July 6, 2018, allowing creditors to become the owners of this media company instead of collecting debts, BIRN reports.

The total debt of the Novosti company amounts to over RSD 1.4 billion, of which the highest debt is to the creditor printing company Stamparija Borba – RSD 670 million.

The printing company is 80 percent state-owned and the state, which was supposed to leave the media three years ago, can take full ownership of the media company through it.

Source: N1

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