The international investment group Alpac Capital and Summer Parent S.à rl, the ultimate shareholder United Group (the "Group"), have confirmed that an agreement has been reached on the sale of dria News S.à rl, reports N1.
Alpac Capital has many years of significant experience in managing media and information companies on an international level, including the majority ownership of one of the world's largest networks, Juronjuz, which reaches more than 1,5 billion people in over 160 countries and broadcasts in 19 languages. This acquisition provides ANN with a strong platform and an owner aligned with its editorial principles, ensuring the long-term independence of this important media outlet. Alpac Capital is committed to promoting neutral and fact-based journalism, which respects the highest editorial standards, which is confirmed by its ownership of Euronews, the statement said.
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United Group is a leading telecommunications and media operator in Southeast Europe, majority owned by the global investment company BC Partners.
In February 2026, United Group consolidated its news media operations in Bosnia and Herzegovina, Croatia, Montenegro, Serbia and Slovenia under a single independent brand, Adria News Network ("ANN"), with its own fully independent board and oversight by an Editorial Council composed of world-renowned international media professionals. ANN's established and award-winning brands, including N1, Nova S, Vijesti and Danas, provide multimedia news content to a combined audience of more than 16 million people and employ more than 1.000 journalists and other staff. The management model introduced at the same time was evaluated as the most effective way to protect editorial independence while simultaneously ensuring stability, transparency and business resilience, in accordance with the commitments made by BC Partners and the management of United Group in 2025, according to the announcement. Adria News Network operates on the basis of licenses issued within the European Union, which include guarantees of editorial independence.
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After the formation of ANN, the United group received several offers from parties interested in taking over this media.
It added that Alpac Capital was chosen because it offered the greatest value while meeting the principles of governance and independence set out from the outset. The share purchase agreement includes contractual safeguards that preserve the editorial and functional independence of ANN, the clear separation of editorial and commercial interests, and the preservation of an independent external advisory body.
United Group remains focused on executing its strategy in key European Union markets, enhancing the growth of its telecommunications and media businesses and creating long-term value for all stakeholders. The strong results in the first quarter further confirm the continued growth and value creation of the Group.
A United Group spokesperson said:
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"This transaction represents the realization of a clear goal set by the Group during the year 2025 - to ensure the long-term independence of our news media assets. Upon the conclusion of the transaction, United Group will fully focus on creating value for all stakeholders through its telecommunications, media and technology activities in the European markets. ANN is an important addition to our media portfolio in which we will continue to invest to ensure growth and development. At Alpac, we believe in neutral and fact-based, independent journalism, with stable and sustainable business and financial results. This is confirmed by the work of our journalists, as well as the recognition of independent and credible organizations on the market. We are also aware of the importance of the expansion of the European Union to the Western Balkans. Alpac is fully aware of the importance of this transaction to the countries in which it invests."
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These transactions are subject to standard regulatory approvals and are expected to be completed during the second half of 2026.
Scholak and Bocklag sued BC Partners over the sale of United Media
Dragan Šolak and Viktorija Boklag, through the companies Gerrard Enterprises LLC and Cable Management Company Ltd, initiated legal proceedings against three entities controlled by BC Partners. The aim of this procedure is to stop the sale of United Group's media business, which is being carried out contrary to the Shareholders' Agreement.
According to the statement, the shareholder agreement gives Scholak and Bocklag contractual rights to consent to any substantial change in the nature of United Group's operations. Despite this, BC Partners initiated the process of selling United Media, which includes the entire media segment of United Group, without their knowledge, approval or consent.
"United Media manages around 120 media operations and is a key part of United Group's integrated telecommunications-media model, contributing to customer attraction and retention, as well as strengthening the regional brand. Its sale would fundamentally transform United Group from an integrated media and telecommunications leader to a predominantly telecommunications company, thus destroying the distinct value of a unified service offering across Southeast Europe. Some of the key media brands within United Media's portfolio include national broadcasters Nova TV Bulgaria and Nova TV Croatia, Adria News Network (ANN), as well as numerous other popular media platforms," the announcement states.
Source: H1
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