Quality Titles has bought the respected Romanian news site, G4Media, a move that drew criticism from some of its readers who have funded its dogged reporting, and stoking fears about declining media independence in Romania.
G4Media has gained a reputation for its bullish and insightful reporting, and its pro-democracy stands under editors Dan Tapalaga and Cristian Pantazi, senior and respected journalists who produced an hour-long documentary this year, subtitled in English, showing how Russia meddled in Romania’s presidential election. Moscow has denied interference.
The publication, the 16th most read in Romania, has been critical of Romanian news outlets that accepted government funding during the pandemic and presented itself as a non-profit site earning a reported 300,000 euros from readers’ donations.
The price of the sale was not publicly disclosed but was reported to be in the range of five million euros.
The Quality group is headed by Radu Budeanu, who received a suspended sentence for corruption in 2020 when he made a plea bargain with anti-corruption prosecutors for allegedly brokering a bribe of 5 million dollars to former Tourism Minister Elena Udrea, herself recently released on parole where she was serving a sentence for corruption
The group also owns Mediafax news site, ProSport, tabloid CanCan, Gândul, ProMotor, CSID, Descopră, Go4it, Ciao, RaziCuLacrimi, ApropoTV and Liga2.ro.
G4Media also owns Economedia, G4Food, Techrider and Pets&Cats.
One blogger, Radu Dimitru, wrote: “This is probably where G4Media’s presence as the independent and authoritative publication in the media ends,” in a blog headlined ‘Gandul/Cancan has bought G4 (RIP)’
Yet others argued that the sale would allow for vital investment in the outlet and only time would tell show if its media footprint diminished.
In an agreement that was made public, the new owner committed to editorial autonomy.
“The editorial policy of publications is established exclusively by the editorial teams led by the editors-in-chief, who have the last word in all decisions regarding journalistic content. The Owner has the legitimate right to consult with them.”
“The Owner may not directly contact the members of the editorial offices to influence, prohibit or modify articles or investigations. Communication is done exclusively through the editors-in-chief“.
However, the owner can replace the editor-in-chief and the editorial team, generating fears that G4’s reputation and impact could take a hammering in an already vulnerable media market.
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