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Albatros Media buys the book publishing part of Mladá Fronta

The Albatros Media company has acquired for almost 545,000 euros the section in charge of publishing books from the Mladá Fronta publishing house, which is currently in bankruptcy. The purchase contract was closed on Monday and the sum has already been paid, the insolvency administrator, Petra Hýsková, announced on Tuesday. The information was provided by the server Seznam Zprávy.

Neither the creditors’ council, which makes up Crane Constancy Investments, nor the judge has seen problems in the operation. At the end of January, Hýsková wanted to sell the publishing house at auction, but the judge did not give his permission at the time. Then Albatros offered the 545,000 euros, 155,000 less than in January.

Creditors are asking for a total of € 15.55 million. The accumulated losses of the company are estimated at almost 8 million euros. The workers have not received their wages since last October. The publisher’s online division was sold in January, including the Euro print magazine brand. Shortly after, several company magazines were auctioned.

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