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Gábor Széles and Mária Vissi have bought up 76% of the daily Magyar Hírlap, which is due to receive HUF100m in loans from its owners within days. The Széles's say they want to provide accurate reporting to readers on both left and right.

At a press conference held after an editorial meeting, Gábor Széles said he had bought a 25% stake, Mária Vissi a 51% stake in Magyar Hírlap, with the remainding capital being divided between the paper's employees. Gábor Széles heads Videoton Holding and Műszertechnika Rt. Mária Vissi was deputy CEO of Ikarus from 1996 and played a key role in crisis management at that company. Széles said that the loan was necessary because the paper owed money to the press and that it had a poor cash-flow performance.

He said that this would help Magyar Hírlap to become a soundly financed limited comapny. He said that he had asked the papers' journalists to create a paper which would make it unnecessary for readers to buy two papers to balance out left and right wing opinion.

Széles said that he wanted to do the same at Magyar Hírlap as he had at Echo TV, which he founded - it would be neither right-wing nor left-wing, he said.

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