Sorin Ovidiu Vântu expands his "Barter" business

The shareholders of "Realitatea Media Barter Deals" - businessman Sorin Ovidiu Vântu and consultant Mihai Craiu - recently decided to extend the duration of their business, until mid-may 2011.

Their company was incorporated in spring 2009, but with a limited duration of just one year. The idea behind the business is simple: exchanging advertising for goods (coffee, cars, soft drinks etc.), which the company would then resell on the market and profit from the price differences.

The fact that Vântu and Craiu have decided to extend the duration of their company seems to show that their business did well in the first year, even though for now the company hasn"t published its financial statement for 2009. The administrator of the company, Mihai Craiu, was not available for comment.

However, the business of Mihai Craiu"s agency Media Consulta, doesn"t seem to be doing so well, after the press yesterday announced that Elena Udrea, the minister of Development, will terminate the contracts that the company in question received in order to advertise the "Regio" program, which were signed under the tenure of the previous minister, Vasile Blaga.

According to "Hotnews", TV station "Realitatea Tv", owned by Sorin Ovidiu Vîntu, was expected to receive almost EUR 200,000 through Media Consulta, for the advertising of the "Regio" program. It was also "Hotnews" that last year published an interview in which Mihai Craiu said he was planning on becoming the leader of the government sponsored advertising market, which he estimated was worth between 60 and 100 million Euros.