United Media, the leading media company in Southeast Europe, has become the majority owner of the media house Vijesti in Montenegro. Following the approval of the relevant regulatory bodies, the company was approved to take over 51% of the ownership in Vijesti, a media house that includes a portal, television station and a printed edition.
“Vijesti is an example of how to be independent, how to serve the public interest, an example of a media that builds and maintains credibility for many years,” said the Executive Director of United Media, Aleksandra Subotić. “I am extremely pleased that we have completed the takeover process and that Vijesti is part of the United Media portfolio. We will continue to nurture the values by which Vijesti is recognisable on the market, but also to reach new audiences through this partnership and new investments.”
“We are happy that our agreement with United Media has been formally finalised, which opens a new chapter in the development of all our platforms in order to further strengthen and improve the strong position of Vijesti on the Montenegrin market,” said Zeljko Ivanovic, one of the founders of Vijesti and Chairman of the Board of Directors. “As a new shareholder, United Media is committed to respecting and protecting editorial independence and media autonomy. The Editor-in-Chief of both newspapers and TV will continue to be elected at the recommendation of local co-owners, as well as the Media Development Investment Fund, an investment fund from New York that supports media freedom and has been a minority shareholder in Vijesti since its inception.”
MDIF’s CEO Harlan Mandel said on the occasion of the finalisation of the agreement that it is great news for both the Montenegrin media and independent media in the region. “The United Media investment ensures that credible journalism will continue to be at the heart of the Vijesti business model and that the company will be able to continue its expansion to bring quality news and information to a wider audience, through print, web portals and TV in Montenegro and also the region.”
United Media is the leading media company in Southeast Europe, operating in eight countries and with a portfolio of 55 television channels, including N1 and Nova TV, dailies including Danas and Nova, and a number of portals and radio stations.
Media Development Investment Fund, Inc. is a not-for-profit investment fund that supported independent media in the region for 25 years. MDIF holds a minority stake in Vijesti.
Read the announcement on the Vijesti portal.