Goldbach Media, the agency which sells advertising for several websites in Romania, including Olx.ro, as well as for local radio and TV stations, will withdraw from the local market, it has announced.

The advertising group also decided to withdraw from Russia and the Czech Republic, and give up on its Goldbach Interactive in Poland. The decision to exit the market was triggered by the difficulty to sell advertising for national TVs, after legislative changes in 2013, and to the evolution of the economy, and of the advertising market.

Most likely, the management in Romania will continue the project locally. Michi Frank, CEO Goldbach Group, said he believes the project in Romania will be continued by the current management team. "We are ready to find the best solution to this end," he says.

Goldbach sells advertising for the websites of Allegro Group Romania – Olx.ro – the former Mercador.ro, for Autovit.ro, Trendzone.ro and Compari.ro, among others.

It sells advertising for 71 local radio stations, 46 local TV stations, and 52 local publications, as well as 80 websites.

editor@romania-insider.com