ECONOMY

Restis group buys out City radio

The Restis Group announced yesterday the successful conclusion of negotiations for the purchase of Athens radio station City FM from the Angelopoulos family. The group, which relies on its considerable shipping activity, has made inroads into Greek media with the ownership of MTV Greece and stakes in Athens-listed Teletypos, which owns the Mega television channel and Arrena Radio station. «The acquisition of City FM considerably strengthens the presence of the group in the mass media and secures the continuation of the station’s operation,» said Victor Restis in yesterday’s statement. «It is a station that stands out for its content and the accuracy of information as well as the quality of its manpower,» he added. Yesterday’s development breathes new life into the station, which went out of business earlier this summer when owners Theodore and Gianna Angelopoulos closed their entire media conglomerate, which had also included newspaper Eleftheros Typos and the www.e-tipos.com website.