The outdoor advertising company Efect Media, the fourth-largest player on this market, was announcing the takeover of Churchill Media, the number three, this summer.
The shareholders and management of Efect at the time said they planned to create a group to compete for the second position on the market, which was held by Exclusiv Media.
Latest info on the market has it that Efect or its shareholders relinquished control over Churchill Media to Romanian businessman Lucian Palaz several weeks ago.
Sources on the market say Palaza had been involved in the takeover as a backer or majority shareholder from the very beginning. Meanwhile, Palaz has come to control Churchill Media and has also become its general manager.
Dio Boaca, Churchill Media's general manager before the sale of the company quit his position and is to venture into the business world on his own.
As a result, Palaz is now looking for a management team to run Churchill Media, and is even in talks with Elan Schwartzenberg, founder and former majority shareholder of Exclusiv Media, the quoted sources say.
"I cannot comment at the moment. The only thing I can confirm is that I am indeed Churchill Media's general manager," Lucian Palaz told Ziarul Financiar.
Elan Schwartzenberg says he has discussed with Churchill Media's representatives twice, but made not decision about coming on board as CEO.
"I am interested in going back to outdoor advertising, I have considered several opportunities so far but made no decision in this regard. I met Mr. Palaz a month ago, but I have no intention of joining the Churchill Media business one way or the other for the time being," Schwartzenberg told Ziarul Financiar.
Elan Schwartzenberg founded Exclusiv Media, which it sold for $19 million to NewsCorp, the giant controlled by media tycoon Rupert Murdoch in 2000.
Exclusiv Media is the second leading player on the market, accounting for about 25%.
Dio Boaca, the former general manager of Churchill Media did not care to provide any further details on the shareholders of the company, either.
"I am not the one to talk about this. I am no longer employed by Churchill Media as of this month. I chose to go into the advertising business on my own," Dio Boaca says.
He is regarded as one of the best managers in the Romanian outdoor advertising.
The Romanian outdoor advertising market saw several disputes caused by differences between shareholders' representatives and managers this summer.
laurentiu.ispir@zf.ro
Pentru alte știri, analize, articole și informații din business în timp real urmărește Ziarul Financiar pe WhatsApp Channels
