MTI (Magyar Távirati Iroda, literally "Hungarian Telegraphic Office") is aHungariannews agency. One of the oldest news agencies in the world, it was founded in 1880.[1]
MTI was owned by MTI Rt., founded by the Parliament.[2] The members of the Owners' Advisory Body are elected by theNational Assembly of Hungary on four-year terms.[2] It is a marketleader, and is considered by some sources to be a 'balanced and reliable source'.[2] Still, it finds it difficult to raise subscriptions as most major Hungarian newspapers are foreign-owned.[2] It must turn to the government for capital to overcome its technology deficit.[2]
According to aUNESCO report it faces competition both from independent and specialist news agencies (e.g. English-language on-line news sites, including theBudapest Business Journal,The Budapest Sun, websites of various television and radio stations), and from domestic Hungarian news services established byReuters andAFP.[2]
On 1 July 2015, Magyar Távirati Iroda as well as the three other public media organizations managed by theMTVA were merged into a single organization calledDuna Média. This organization is thelegal successor to Magyar Távirati Iroda.[3][4][5]
The merger ensures that the companies do not terminate their operation without having a legal successor.
47°29′36.41″N19°2′2.67″E / 47.4934472°N 19.0340750°E /47.4934472; 19.0340750
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