Why Big Media Guns Are Tracking HVG

The independent Hungarian newsweekly is popular -- and quite profitable. Would it sell? Only to a buyer who values its editorial spirit

It was supposed to be an obedient servant to Hungary's Communist rulers, a weekly political and economics newsmagazine toeing the party line. But somehow, the young journalists who launched Heti Vilaggazdasag (Weekly World Economics, or HVG) in 1979 and modeled its look and style on Britain's The Economist never got the message. Right away HVG set an independent tone. "Our chief editor's full-time job was to defend the editorial staff from the party leadership," says Peter Szauer, then a deputy editor of the magazine and now CEO of HVG Publishing House.

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