NGOs Sound Alarm Over Potential Sale of Serbia's Last Independent Media Outlets

The Adria News Network (ANN), encompassing prominent outlets like N1, Nova S, Radar, and Danas, finds itself at the center of intense speculation regarding a potential sale to Alpac Capital. This prospect has ignited significant alarm among a coalition of over 25 non-governmental organizations in Serbia, who have issued a stark warning about the imminent threat to media freedom not only within Serbia but across the entire Western Balkans region.

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We are strongly concerned that the potential sale of Serbia’s last independent media outlets to Alpac Capital poses a direct and imminent threat to media freedom in Serbia and the Western Balkans.

These NGOs, staunch advocates for press freedom, are particularly troubled by reports suggesting that United Group is preparing to divest ANN, along with approximately a dozen other media properties in the Western Balkans, to the European Future Media Investments fund. This fund is reportedly controlled by the Portuguese investment firm Alpac Capital. The NGOs are calling for a thorough examination of Alpac Capital's past dealings, pointing to its 2022 acquisition of a majority stake in Euronews, which investigative reports revealed was partially financed by Hungarian state capital and entities closely tied to Viktor Orban's political networks.

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As strong advocates of press freedom, we are gravely alarmed at reports published earlier this week suggesting that United Group is preparing to sell the Adria News Network (ANN), including N1, Nova S, Radar and Danas as well as approximately a dozen further outlets across the Western Balkans to the European Future Media Investments fund controlled by Portuguese investment firm Alpac Capital.

While ANN itself has acknowledged the external speculation and media reporting concerning potential investor interest, the network has maintained a policy of not commenting on market rumors, shareholder discussions, or potential transactions unless a formal announcement is made. Crucially, ANN has emphasized that its editorial teams are continuing their work without interruption, adhering to existing editorial structures, standards, and governance frameworks. The newsroom operations and editorial processes are proceeding as normal, a reassurance intended to mitigate immediate concerns about editorial independence.

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Alpac Capital’s record must be scrutinized.

From a Serbian perspective, the potential sale of these media outlets represents more than just a business transaction; it is viewed as a critical juncture for the nation's media landscape. The concentration of media ownership, especially to entities with potential political ties, raises deep-seated concerns about the future of independent journalism. Unlike in some Western countries where media consolidation might be viewed primarily through an economic lens, here in Serbia, the implications for political discourse and the public's access to diverse information are paramount. The vigilance of the NGO sector underscores the fragility of media freedom and the collective responsibility felt to protect it from undue influence, ensuring that these outlets remain a vital check on power and a platform for open debate.

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Editorial independence in Serbia must be protected.