Pedro Vargas David, owner and director of Alpac Capital announced that the company has received all necessary approvals from competent institutions in Bosnia and Herzegovina to acquire N1 and Nova BH.
In a statement to the media, Vargas David stated that this is an important strategic investment representing part of a long-term vision for developing media operations across Southeast Europe, while specifically emphasizing the importance of media independence and professional journalism, N1 Sarajevo reported.
Vargas David stated that Alpac Capital, as the new owner, will adhere to the highest journalistic standards and protect the independence of newsrooms, editors, and journalists from any inappropriate internal or external influence.
“Bosnia and Herzegovina is a European country. Its people share our common European past, but most importantly they aspire to our joint European future. More than 75% of the citizens of this country show, in all opinion polls, their full support for EU membership. And this is not just out of a wish for economic growth and prosperity; it is deeply rooted in a sense of belonging and shared values,” Vargas David emphasized.
The owner and director of Alpac Capital stressed that the road to full EU membership for Bosnia and Herzegovina is still long and not without challenges.
“State building, rule of law, and a functioning market economy are still areas that will require the effort of both the authorities and of the people. Reforms will sometimes be painful and will not present results overnight for the daily life of the people of Bosnia and Herzegovina, but the longterm impacts are well proven and sound. From Sarajevo, Banja Luka, or Mostar, from the mountains and the villages, from its natural wonders and its superb squares, from its different religions and ethnicities, Bosnia and Herzegovina must be the shining example of all the best our continent has to offer. Where history, culture and religion intertwine with a passion for sports and a passion for life. From cejf to merak, Bosnia and Herzegovina has much to give to Europe and Europeans,” said Vargas David.
The owner and CEO of Alpac Capital said he wishes to inform the people of Bosnia and Herzegovina that the group he heads has received all different approvals issued by the relevant local authorities (Media and Competition) required for the acquisitions of Nova and N1 in Bosnia and Herzegovina.
“For us, this represents an important strategic investment and forms part of our long-term vision for the development of media operations across Southeast Europe. We expect all remaining steps necessary to formalize the transaction to be completed in the coming days. The future of Bosnia and Herzegovina is deeply interconnected with the future of its media. In a land that was once desecrated by war and devastation, media can be a force for Good, or the start of all problems. Radicalization or segregation will only lead to further violence physical or verbal. And this country and this region have seen enough of that. High ethical and journalistic standards, independent newsrooms without political agendas or interference of any kind and soundly financial companies with good management are the recipe for success not just for the individual companies but also for democratic societies,” he said.
For the new owner, Nova and N1, which operate in Bosnia and Herzegovina with full local licenses, are a good example of what independent, non-sectarian, non-partisan and financially profitable media can achieve, N1 Sarajevo reported.
“As a new owner, we will adhere to the highest standards of journalism. Actively promoting the independence of the newsrooms its editors and its journalism, protecting them from any form of internal or external undue influence, ensuring pluralism of opinion, and accountability to audiences. These values form the foundation of our operations in every market where we are present. At the same time, as we did in many other instances, in terms of editorial policy, we guarantee one thing: a clear pro-European orientation grounded in the values of democracy, rule of law, media freedom, institutional accountability, and European integration.”
The announcement also stated that Amir Zukic has been reappointed as Head of News of N1 Bosnia and Herzegovina, and Dzelila Mizdrak as Head of Nova BH.
Vargas David added that their objective is not to alter the identity of successful local media brands, but to provide them with additional resources, technological support, international expertise, and new opportunities for growth and development.
Read more on the N1 Sarajevo website.
Source: N1
