WASHINGTON--(BUSINESS WIRE)--On April 20th, Ellaal Goldberg Corporation, a U.S. holding company based in Washington, DC that is the majority shareholder of Ellaal Goldberg, SA, a company incorporated in Romania, announced that it will invest as much as 50 million USD in the in the Romanian communications and media market, including 20 million USD in the first year.
Ellaal Goldberg Corporation today announced that it is expanding the scope of the investments to strategic investments to both broadcast and interactive, that it is in advanced negotiations for the first round of investments in Romania and that it is fully capitalized to conclude those transactions.
The holding company also announced that it is completing selection of its bilateral Executive Media Board that is analyzing investment targets and which will oversee execution and implementation by Ellaal Goldberg SA. While there is one board member appointment from the United States pending, the holding company announced the appointment to the Board of Cozmin Gusa, CEO and principal shareholder of RealitateaTV and a shareholder in Ellaal Goldberg, SA; Lucian Sarb, who, until recently, was the Chief Content Officer for Euronews, headquartered in Lyon, France; and Mark Robertson, President of Potomac Global Advisors, as ex-officio member of the Board on behalf of the holding company. The final member of the Board from the United States is expected to be announced in the coming days.
Mr. Robertson again underscored the importance of these impending investments by the U.S. holding company, noting that, “the expanded scope is a reflection of opportunities the Board sees as both economically material and strategically important to driving positive impact in Romania, and the critically important impact these investments will have in maintaining and enhancing a free and independent media in this important region.”
The Romanian company has experience partnering with U.S. interests and is also invested in the Romanian insurance market through a partnership with one of the largest American insurance groups, ARCH Reinsurance Company.
Ellaal Goldberg SA, based in Târgu Mureș, Romania, will announce technical details of the impending transactions in the near term, as appropriate.
About Potomac Global Advisors. Potomac Global Advisors is a full service international strategic consulting firm based in Washington, DC offering clients the breadth and depth of a global network of affiliates in many of the major cities around the world. PGAdvisors is primarily focused on assisting domestic and international companies and governments to manage the complex web of cross-border challenges and opportunities of participating in the globalized economy.