EFJ: Full transparency needed in Adria News Network takeover

The European Federation of Journalists (EFJ), alongside two media freedom organizations, has called on the European Board for Media Services and the European Commission to scrutinize Alpac Capital's planned acquisition of Adria News Network. This request aligns with the European Media Freedom Act and EU regulations on media ownership and concentration.

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Having in mind Alpac Capital's history of opaque financing and non-compliance with regulatory obligations in the takeover of the Euronews television channel in 2022, which was partly financed by funds linked to the Hungarian state and individuals close to Viktor Orbán's government, full transparency is urgently needed.

In a letter, the EFJ, Balkan Free Media Initiative, and Article 19 Europe urged the European Commission and national regulators to monitor Adria News Network's developments. They seek an assessment of the potential impact on editorial independence and media pluralism, demanding strict oversight, full ownership transparency, and binding guarantees for media freedom.

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The total impact on media pluralism, editorial independence, public opinion, and the internal market cannot be adequately assessed without full disclosure of the ultimate beneficial owners and sources of funding contained in the Equity Commitment Letter.

Concerns are amplified by Alpac Capital's past dealings, including the "opaque financing" and regulatory non-compliance during its 2022 takeover of Euronews, which was reportedly partly funded by entities linked to the Hungarian state and individuals close to Prime Minister Viktor Orbán. The organizations argue that a comprehensive evaluation of the impact on media pluralism, editorial independence, public opinion, and the internal market is impossible without full disclosure of ultimate beneficial owners and funding sources.

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Journalists are not assets to be transferred with a company from one owner to another, and editorial offices must not become instruments of political or commercial interests.

Recent leadership changes within Adria News Network have further heightened journalists' worries about future editorial independence. The EFJ president, Maja Sever, stated, "Journalists are not assets to be transferred with a company from one owner to another, and editorial offices must not become instruments of political or commercial interests." The groups are available to assist an expert group in assessing media concentration's potential harmful consequences, emphasizing the stakes for media pluralism, editorial independence, and professional journalists' labor rights.

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We call on the Media Board to conduct an urgent regulatory review to prevent the harmful consequences of media concentration. We stand at the disposal of an ad hoc expert group for all necessary assistance. Media pluralism, editorial independence, and the labor rights of professional media workers are at stake.