LOGOS company has terminated its three-year co-operation with Mega television and claimed the channel back, throwing it into turmoil.
Three years ago, Mega bought Logos Television. The two companies signed a co-operation agreement which gave Mega the right to run the channel.
But Logos logos on the walls of the Mega building met shocked employees walking in on Thursday morning.
Logos announced that a Supreme Court decision had declared the agreement between the two companies invalid. The company said that, according to the Court decision, Mega could no longer run the channel and Logos should take over. The company urged Mega’s staff to sign contracts with Logos since they could no longer work for Mega.
According to newspaper information, parent company Mega of Greece is behind Logos’ move.
Media circles believe that Mega of Greece was unhappy with the management of its subsidiary company and wanted the channel in Logos’ hands.
But Mega was quick to hit back.
“The content of Logos’ announcement is deceiving and untrue. Logos’ unilateral move is illegal and arbitrary,” Mega’s legal advisor Yiannakis Mylonas said on Thursday.
According to Mylonas, the Court decision ruled that Logos had abused its licensing rights and that it had nothing to do with the channel’s ownership status.
Mylonas described Logos’ move to urge its employees to break their contracts with the company as “illegal.”
The parent company was reported to have reassured Mega staff that their working rights would not be affected by possible developments.
But Mylonas warned employees that if they signed agreements with Logos they would have trouble getting their jobs back at Mega in case the channel prevailed.
The Cyprus Mail is the only English-language daily newspaper published in Cyprus. It was established in 1945 and today, with its popular and widely-read website, the Cyprus Mail is among the most trusted news sites in Cyprus. The newspaper is not affiliated with any political parties and has always striven to maintain its independence. Over the past 70-plus years, the Cyprus Mail, with a small dedicated team, has covered momentous events in Cyprus’ modern history, chronicling the last gasps of British colonial rule, Cyprus’ truncated independence, the coup and Turkish invasion, and the decades of negotiations to stitch the divided island back together, plus a myriad of scandals, murders, and human interests stories that capture the island and its -people. Observers describe it as politically conservative.
