Final Word from Thursday, January 29, 2004





The demise of the Prague Business Journal led quickly to negotiations about the launch of a new English-language weekly. According to Associate Publisher Jeffrey Osterroth of the PBJ, many people are interested in either reviving the paper or starting a new one, although there's nothing concrete so far. The business community would benefit from a profitable, well-run publication, but the current PBJ management might have backed itself into a corner by using the existing business to promote the idea of a new publication with the same staff. This could be seen by the bankruptcy receiver and creditors as detracting from the liquidation value of the failed company. PBJ insiders accused the paper's owners of "tunneling" the company; for a new publication to be successful, its owners will have to avoid any hint of stripping residual value out of the PBJ.New World Publishing

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