Křetínský and Tkac buy Ringier Axel Springer group

Businessmen Daniel Křetínský and Pavel Tkac have confirmed buying the Ringier Axel Springer CZ group. The value of the group which publishes the Czech Republic’s best-selling tabloid Blesk, the weekly Reflex, and a daily sports newspaper among others, has been estimated at 4.7 billion crowns (170 million euro). In a statement for journalists the group’s new owners said their main task would be to address the address the problems facing print publishers.