May 2010

Largest Bookstore Chain Filed For Bankruptcy
Despite a layoff of 40 percent of the workforce, and a 45 percent wage reduction and also the renegotiation of all rents, Diverta, Romania's largest bookstore chain, filed for bankruptcy. The 62 shops brought in last year only 27.5 million Euro in sales, 37 percent less than the year before. According to Ziarul Financiar the operating loss stood at 600,000 Euro. The main problem of the bookstore chain was the inability to pay its suppliers. Now, the company is to be judicially reorganized. The reorganization must be completed within 18 months. There will be no departure from premium price segment, company officials said. 35 percent of sales are done be book sales, 20 percent are achieved through the sale of multimedia products, office products and another 20 percent though the rest of IT products and toys.

April 2010

Book Publishers Rely On Alternative Distribution Channels
In the absence of official data, a detailed presentation of the Romanian book market is hardly possible. A picture can drawn only on the basis of reports of individual publishers. Thus, the book sales in the first quarter of this year increased slightly thanks to the use of new distribution channels, publishers say. Delivering books as a supplement to daily and weekly newspapers supported the sales. Even the online sales allegedly rose. On March 30th, 2010, the first Romanian online book catalog has been launched, it is among under the address www.infocarte.ro. That market volume is estimated at 80-100 million Euro. This year, book publishers expect rising sales.

March 2010

Humanitas Publishing House Lost 30 Per Cent In Sales In 2009
One of the largest book publishers in Romania registered a sales decline of nearly 30 per cent over the past year related to the previous year. In 2008, sales of the group amounted around 10 million Euro. The Humanitas publishing group is owned by 88 per cent by the philosopher Gabriel Liiceanu. The publishing group operates 16 bookstores nationwide. One bookstore had to be closed in 2009, 15 per cent of the workforce was released. Currently, the publishing house employs approximately 160 people. The first months of this year would have been cause for joy. For 2010, a growth in sales by 5-10 per cent is expected.

February 2010

Ringier To Increase Efficiency In Romania, Sold Two Newspapers
The Swiss media group Ringier, surprisingly announced the sale of the newspaper "Evenimentul Zilei" (since 2003 at Ringier) and of business magazine "Capital" (since 1992). According to media reports the two publications were sold for approximately 8 million Euro to the Romanian businessman Bobby Paunescu. Michael Hagger, Managing Director of Ringier in Romania, said the step needed to be made in order to increase efficiency of the group's portfolio in this country. While Capital was known as a loss maker, "Evenimentul Zilei" made a name as a serious newspaper. Ringier Romania still edits the very successful newspaper Libertatea "(inspired by the German Bild Zeitung), and 6 magazines and 2 tv program magazines. In addition, the publishing house cooperates with the Turkish Dogan Group in the television station "Channel D". Furthermore, Ringier stopped the magazine "Diva" (published since 2008). Even before completion of the acquisition, 100 employees are to leave the two newspapers.

January 2010

Media Landscape 2009-2010: 8 Newspapers Less
2009 was a very turbulent year for the Romanian press landscape Publimedia, editor of the renowned Ziarul Financiar shot down the regional newspapers "Bihoreanul", "Ieseanul", "Hunedoreanul" and "Clujeanul"; Romania Libera stopped its saturday edition, the media group Realitatea-Catavencu closed on December, 31st the daily newspaper "Cotidianul" and the business newspaper "Business Standard" 31.12. Swiss publishing house Ringier closed the freely distributed "Compact", funded solely from advertising, as well as "Diva", 2008 first issued in 2008 as a weekly magazine, and then switched to monthly publication. Dozens of journalists and print media designer were sacked. The new year promises to be at least as well as problematic: The newspaper "Ziua" and "Gardianul" made their last appearances on paper in January. "Ziua" Upon clarification of the economic situation the newspaper "Ziua" will be left only with its online-version.