Orban-Linked Media Mogul Offers Companies to Hungarian State

One of Hungary's most influential media figures, Gyula Balasy, has offered to transfer his companies to the state following the electoral defeat of Viktor Orban's government. It is the first major pivot by a businessman associated with the previous administration since the change in political circumstances.

Balasy said he had built up his group of companies over 22 years, providing events, communications and media buying services to the state. He justified the decision on the grounds that these activities go beyond normal market operations and should belong to the public sector. He denied that the move was related to any illegal activity.

His companies were behind several government campaigns, including anti-immigration and anti-Ukrainian projects. New Prime Minister Peter Magyar has announced a review of state contracts and a drive against corruption.

Opposition politicians have pointed out that Balasy's companies dominated the state communications market and won publicly funded contracts. Available data indicates that the companies generated high revenues and profits, with the volume of contracts growing significantly over time.

Balasy also said that accounts held by several of his companies had been frozen, but did not specify which authority had taken the decision. Officials from Magyar's Tisza party said the development suggested that the network linked to the former government may be beginning to unravel faster than expected.

(reuters, bak)