CPI Property Group has agreed to provide funding to Mlada fronta, a publishing group whose titles include the influential weekly business magazine Euro. The property giant agreed to a CZK 45m credit facility for the troubled publisher that will be drawn down gradually. The two companies issued a joint press release claiming the loan would enable the insolvent company to continue carrying out its business plan. This envisions a modest profit for 2020. CPI’s director of operations Zdeněk Havelka said the operational loan was justified by the potential of the publisher. “We believe that this brand, which has a 75-year history and employs experienced professionals, is a good investment.”
