3 articles read within 30 days

Register for free to read recent articles

REGISTER NOW

Register for free to read a limited number of articles from the past month.
Find out about premium plans.

Already a member? Please log in here.

You can read one more article for free this month

REGISTER NOW Register for free to read 5 number of articles from the past month. Find out about premium plans. Already a member? Please log in here.

You have 2 more articles for free this month if you don't register

REGISTER NOW

Register for free to read more.
Find out about membership plans.

Already a member? Please log in here.

Posted inCentral Europe & Baltics

Eastern Europe Holds On to Music Archives

INTERNATIONAL INVESTORS were dismayed late this summer when the Hungarian State Privatization and Holding Company (APV Rt.) announced the results of a tender for the former government-owned recording company Hungaroton. Despite a $5.3 million bid by the international music group PolyGram, APV Rt. awarded the tender to a consortium of local Hungarian musicians whose offer was less than half of PolyGram’s. Together with other multinationals, PolyGram expressed outrage at this decision, claiming that its bid had been turned down solely because it was a foreign company. The Hungarian government responded that the decision had been reached in accordance with privatization regulations, while Privatization Minister Tamas Suchman said he was pleased that Hungaroton’s archive would remain in Hungarian hands.1