United Media becomes majority owner of Montenegrin media company Vijesti
11. June 2022
United Media, the leading media company in southeast Europe, has become the majority owner of the media company Vijesti from Montenegro.
After gaining the approval of the regulatory bodies, the company was granted permission to acquire 51 percent ownership in Vijesti, a company whose portfolio includes a website, TV, and print.
“Vijesti are an example on how to be independent, how to work in the public interest, an example of a media outlet which has built and preserved its credibility for years. I’m exceptionally happy we have completed the takeover process and that Vijesti has become a part of the United Media portfolio. We will continue to nurture the values which have made them stand out in the market, but, through this partnership and new investments, we will also work to reach new audiences,” said the CEO of United Media, Aleksandra Subotic.
“We are pleased that our deal with United Media has been formally finalised, which opens a new chapter in the development of all our platforms so we can continue to build the dominant position of Vijesti on the Montenegrin market. United Media, as the new shareholder, has committed to honour and protect the editorial independence and autonomy of the media outlet. The editor-in-chief of both the TV and the paper will still be selected based on the local co-owners’ suggestions, as well as the Media Development Investment Fund (MDIF), a New York-based investment fund which supports the freedom of the media, and which has been a minority shareholder of Vijesti from its beginnings,” said Zeljko Ivanovic, one of Vijesti’s founders and the chairman of the board of directors.
Harlan Mandel, MDIF CEO, said: “The coming together of two of the region’s most respected and influential media brands is excellent news for Vijesti and independent media in the region. United Media’s investment ensures that groundbreaking journalism will continue to be at the center of Vijesti’s business model and that the company will be able to continue expanding its provision of quality news and information to print, digital and broadcast audiences in Montenegro and beyond.”
United Media is a leading media company in southeast Europe, which is present in eight countries. Its portfolio includes 55 TV channels, including N1 and Nova TV, daily papers such as Danas and Nova, and numerous websites and radio stations.
Media Development Investment Fund, Inc. (MDIF) is a non-profit investment fund which has been supporting independent media in the region for 25 years. MDIF has a minority stake in media outlets.