Former Romanian journalist Radu Budeanu, currently owner of the Titluri Quality, which includes the Cancan tabloid, the Gândul, general daily, and the ProSport sports daily, has purchased major local news agency Mediafax and its media products: the website, photo agency, and news feed.

The transaction was agreed on January 8, 2025, according to Mediafax.

The news agency founded by Adrian Sârbu in 1991 was the first independent news agency after the Revolution.

Radu Budeanu was sentenced in 2020 to 2 years in prison with a suspended sentence for complicity in influence peddling in the Hidroelectrica case after the Bucharest Court accepted the plea agreement he concluded with the National Anticorruption Directorate.

On July 27, the DNA announced that businessman Radu Budeanu, who controls a media group, had reached a plea agreement with the DNA in the Hidroelectrica case, in which he is accused of brokering a USD 5 million bribe received by former Minister of Regional Development and Tourism Elena Udrea.

In the Hidroelectrica case, the DNA indicted Elena Udrea in December 2017 for influence peddling and money laundering and journalist Dan Andronic for perjury.

Radu Budeanu also owned a 13% stake in waste management and cleaning group Romprest, the beneficiary of major public contracts, but sold its stake in 2020.

In 2021, Budeanu attempted to take over Libertatea daily, but the Swiss owner refused to negotiate.

"I have admired and respected Mediafax and its team of journalists since the first day I joined the press," said Radu Budeanu, the majority shareholder of Titluri Quality.

He said that he is "happy that alongside Gândul, ProSport, Cancan, but also the other titles, our portfolio will expand with this prestigious brand. Mediafax will remain the same professional and ethical benchmark in the world of journalism in Romania." 

iulian@romania-insider.com