Publisher of the Pravda daily is in trouble
Perex, the publisher of the Pravda daily, asked for temporary bankruptcy protection. It lost a 15-year-old court case and without bankruptcy protection would have to immediately pay tens of thousands of euros in compensation. This is the largest media company so far to use the special tool made available for companies hit by the pandemic. Its sales fell from €11.4m in 2013 to last year’s €6.7m and in 2011-19, it lost €9.8m. In March 2018, it was acquired by Czech company Our Media (Ivo Valenta).