PHG Media Invest SRL is the Bucharest-based company that holds the broadcast license of the Romanian news channel Realitatea Plus. It was incorporated on March 23, 2020, with its registered activity listed as market research and public opinion polling. Its sole shareholder has been Daniela Madi Păcuraru, wife of businessman Maricel Păcuraru, according to Forbes Romania. The magazine reported modest 2024 turnover for the company itself, while its wholly owned media agency, DBV Media House, reported turnover of 16.6 million euros. Romania’s broadcast regulator, the National Audiovisual Council, approved the transfer of the Realitatea Plus license to the company from Geopol International, owned by politician Cozmin Gușă, in June 2023. On April 7, 2026, the council revoked the license over more than 20 unpaid fines from 2024, which the company says it paid or contested in court. The company challenged the decision in court, one of dozens of lawsuits it has filed against the council, and a Bucharest judge suspended the revocation later that month. A Wyoming company was formed on April 13, 2026, and within a month PHG Media Invest SRL registered a transfer of all of Daniela Madi Păcuraru’s shares to it, without the council’s required prior approval. On May 12, 2026, the council refused to approve the change, citing in part notice from Romania’s tax authority that the company was under investigation and owed money to the state.