Final Word from Wednesday, September 10, 2008
The purchase of Economia/HN by Zdeněk Bakala will only increase the sniping among the country's media moguls. Before the sale, Karel Komárek's CBW suggested that Karel Schwarzenberg used the clout of the Czech government to guide the German owners in Bakala's direction. LN's Ondřej Aust hinted that GM Michal Klíma of Economia had an undisclosed personal interest (a promised minority stake from Bakala) in putting the Russian scare into anyone considering a sale to the mysterious MF. And Petr Kellner's Euro has now asked the Kč 2bn question: How does Bakala hope to make money on the purchase given the implied payback period of 20-25 years? Synergies and cost management are the typical responses. But expect Bakala's rivals - many of whom have their own political agendas - to increasingly ascribe Bakala's latest investment to his direct or indirect political ambitions. [Czech Republic Czech Business Weekly Mladá fronta PPF KKCB Lidové noviny Hospodářské noviny]
Glossary of difficult words
to snipe - to make a sly or petty verbal attack on someone;
mogul - an important or powerful person;
CBW - Czech Business Weekly;
clout - influence or power, esp. in politics or business;
MF - Mladá fronta (not related to the newspaper);
payback period - amount of time needed to recoup the investment or purchase price;
to ascribe - to attribute something to a cause or reason.