As “Vreme” first announced, the Portuguese fund holding Euronews is close to buying N1, Nova S, Danas and Radar. Now there is also a draft contract. As we learn, Dragan Šolak did not want to buy these media “over the price”.
When on Friday (May 15) the seen heads gather at the “business summit” which Juronjuz is organizing in Belgrade’s Ložionica, at least a few of them will have a reason to secretly smile.
Above all, Pedro Vargas David, a media mogul with political ambitions who runs the Portuguese fund Alpac and owns Euronews. Because, as “Vremena” sources confirm, David has an agreement in his pocket with BC Partners to buy a number of media outlets in Serbia and the region, including N1, Nova S, Danas and Radar.
It could be Serbian President Aleksandar Vučić smiles who at the end of the “business summit” will have a “hard talk” with Minja Miletic, regional director of Juronujz.
Vucic long ago announced with gusto the sale and layoffs in these media that criticize him, and now such a scenario is really approaching.
On the intentions of Alpak Capital, close to the deposed Hungarian ruler Viktor Orban, to buy media in Serbia and the region “Vreme” was first written back in April.
Thirty million euros for everyone: Šolak didn’t want to “overpay”?
Now the Raskrikavanje portal has an insight into the draft contract, which has not yet been signed, and which stipulates that Alpak, through the EFMI fund from Luxembourg, will buy N1 in four regional centers, Danas, Television and the portal Vijesti iz Crne Gore (51% share), Nova M, the portal and newspaper Nova, as well as the weekly Radar.
As for Nova S, it is planned that the production and employees will be transferred to the company “N1 Televizija doo”, which will also go to the new owner, but they will continue to make Nova S television.
The draft contract foresees extensive “reorganization” and “consolidation” of those media which were previously placed under the umbrella of Adria News Network (ANN), headed by a British journalist. Brent Sadler.
With that move, BC Partners, the owners of United Group, practically prepared the ground for the sale of these media. Previously, ANN claimed that there would be no sales and no layoffs, but now this draft contract completely calls that into question.
According to Raskrivanija, the price of all these media is 30 million euros. According to the knowledge of “Vremen”, it is significantly more than the estimated value.
According to sources familiar with the developments, the minority owner of United Group Dragan Šolak had the opportunity to buy full media ownership from BC Partners, but chose not to submit as generous an offer as Alpak Capital.
By the way, Sholak broke up with the majority owner at the beginning of last year, when he was removed from the management of the company. It was when BC Partners decided to break up the United group, first selling the cable operator SBB and sports rights in a package weighing around 1,5 billion euros.
Over the years, Šolak has become the main figurehead of the government in Serbia, a mystical businessman who allegedly overthrows the state and organizes a “color revolution”.
If the sale happens now, Šolak, as a minority shareholder, will receive part of the money, and then he will practically no longer have anything to do with the media and telecommunications business in Serbia.
More money for BC Partners
Compared to the sale of SBB, the price of the media is “a pittance”, but it could leave the citizens of Serbia without the most powerful critical media, above all the N1 and Nova S televisions.
That is, to soften their critical tone before the elections, as numerous “Vremena” sources from those media said earlier.
“For BC Partners, this is another opportunity to take money from Vučić’s regime or related parties, and then beat Serbia,” a source of “Vremen” said earlier about the alleged deal with Alpak Capital.
Economic calculation also suggests that it could be a “hostile takeover” – without a national frequency and without SBB as a golden coke, the aforementioned media can hardly be profitable. Unless they are bombarded with advertisements and maybe given national frequencies.
Currently, N1 and Nova S are operating sustainably thanks to the old contract with SBB, which pays them per connection. That contract lasts about four more years. These televisions cannot be seen on Telekom’s network.
This development of events was also suggested by the friendly chat between the first man of the United Group, Sten Miller, and the first man of Serbian Telekom, Vladimir Lučić, from last year. In a telephone conversation that was released to the public, they agreed on personnel and other changes in the United group.
Journalists still work freelance.
Admittedly, the draft contract between Alpaca and BC Partners provides for “editorial independence”, which Brent Sadler insisted on in recent responses to “Vreme”. As we have learned, he should supervise the media editorially even after the sale.
As for Alpak Capital, it bought Euronews from Egyptian mogul Nagib Sawiris in 2022 for 170 million euros. Mario David, the father of the first man of the fund, is a long-time intimate and adviser of Viktor Orbán.
According to some assessments, Euronews has become a “megaphone of the European right” and a “franchise for autocrats”.
Although it will host Vargas David, Serbian Juronujz is not part of the family of those channels, but only bought the rights to franchise work.
Sales plans have not yet reached the editorial offices of N1, Nova or Danas. There, some of the leading editors repeat for “Vreme” that they continue to work as before and that the events do not affect their independence.
Source: Vreme
