MTI (Magyar Távirati Iroda, literally "Hungarian Telegraphic Office") is a Hungarian news 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 the National 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 a UNESCO report it faces competition both from independent and specialist news agencies (e.g. English-language on-line news sites, including the Budapest Business Journal, The Budapest Sun, websites of various television and radio stations), and from domestic Hungarian news services established by Reuters and AFP. [2]
On 1 July 2015, Magyar Távirati Iroda as well as the three other public media organizations managed by the MTVA were merged into a single organization called Duna Média. This organization is the legal 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″N 19°2′2.67″E / 47.4934472°N 19.0340750°E