Journalists from N1, Nova, Danas, and other independent media outlets were alarmed when news broke that ownership of their organizations was set to change. The question now being asked is whether the Serbian public could lose some of its most important independent sources of information on the eve of potentially decisive elections.
When tens of thousands of people gathered once again at Belgrade’s Slavija Square on May 23, newly appointed N1 Editor-in-Chief Branislav Šovljanski shared a chart on the social media platform X, highlighting that more than half of SBB cable network viewers were watching N1’s live coverage of anti-government protests at that moment.
Just a week later, however, Šovljanski found himself defending the station’s future. Addressing concerns from viewers, he assured the public that N1’s editorial work remained unchanged and would continue as long as the current editorial team remained in place.
The uncertainty followed confirmation by British investment fund BC Partners that it had agreed to sell Adria News Network (ANN), a major Balkan media group, to Portugal-based Alpac Capital. Alpac Capital already owns the Euronews television network.
According to previous media reports, the deal is valued at €30 million, exceeding earlier estimates of €22 million.
Pending regulatory approval, Alpac Capital is expected to acquire N1 television operations in Serbia, Bosnia and Herzegovina, Croatia, and Slovenia, as well as Nova TV and Nova newspaper in Belgrade, the daily newspaper Danas, the weekly magazine Radar, and a stake in Montenegro’s Vijesti.
Concerns Ahead of Elections
The development has attracted particular attention in Serbia, where media freedom remains a contentious issue. Critics argue that control over national television networks and tabloid media has become one of the main pillars of President Aleksandar Vučić’s political influence.
Vučić has maintained an exceptionally strong media presence, making hundreds of public appearances annually while promoting government achievements and criticizing opposition movements. Independent outlets such as N1 have often been accused by pro-government figures of encouraging anti-government protests and serving foreign interests.
As Serbia moves toward anticipated early elections later this year, concerns are growing that changes in media ownership could affect the diversity of information available to voters.
Some journalists fear the sale is part of a broader effort to weaken critical media voices ahead of the election campaign. Others believe the changes may not result in mass dismissals but could gradually soften editorial criticism of the government and create greater space for pro-government perspectives.
Questions About the New Owner
Euronews was established in 1993 as a pan-European news network. Since 2022, it has been controlled by Alpac Capital, whose chairman, Pedro Vargas David, has been reported to have close ties to Hungarian political circles, including allies of Prime Minister Viktor Orbán.
Media observers and press freedom advocates have expressed concerns about whether the acquisition could affect the editorial independence of ANN’s outlets.
Željko Bodrožić, president of the Independent Journalists’ Association of Serbia (NUNS), stated that the prospective owners do not inspire confidence among many journalists because of concerns regarding ownership transparency and political influence.
At the same time, Euronews Serbia operates separately from Alpac Capital’s wider network and receives financial support from Telekom Srbija, a company largely controlled by the Serbian state.
A Divided Media Landscape
Telekom Srbija has invested billions of euros in recent years in telecommunications infrastructure, sports broadcasting rights, and media companies aligned with the government.
According to critics, Serbia’s media landscape is increasingly divided between outlets supportive of the government and independent organizations that often face financial and political pressure. Independent media frequently struggle to secure advertising revenue and have limited access to public funding compared with pro-government outlets.
If editorial policies at N1 and affiliated media were to change significantly following the acquisition, many observers fear that Serbian citizens could lose access to some of the country’s most influential independent news sources.
Limited Reaction from the European Union
Earlier this year, ANN denied reports that a sale was imminent and insisted that editorial independence would remain protected. Since the transaction was confirmed, questions have continued regarding potential changes in management and programming, although no detailed answers have been provided publicly.
Press freedom organizations have raised concerns with European media bodies and journalist associations, while criticism from the European Union has so far remained relatively limited.
President Vučić has repeatedly commented on developments at N1, while denying any involvement in the sale process. He has also maintained that the government has no intention of shutting down media outlets critical of his administration.
The outcome of the ownership change may prove significant not only for Serbia’s media environment but also for the broader democratic landscape as the country approaches another important electoral cycle.
