N1, Nova S, Nova BH, daily newspaper Nova, portal nova.rs, Radar and Danas. Those media are no longer part of the United Group and now operate under new ownership, it is written in an internal, "strictly confidential" notice, which "Vreme" had access to.
Although not yet licensed by the regulatory body from Luxembourg, the sale of newspaper business within the framework Adria News Network (ANN) to the company European Future Media Investments SCS, was substantially completed on August 24, which media such as N1, Nova S, Danas, Nova, portal nova.rs and Radar passed under new ownership, it was stated in an internal, "strictly confidential" notice United groups which "Vreme" had an insight into.
The ultimate shareholder of the United Group, the company Summer Parent S.à rl, i Alpac Capital on May 29, they concluded an agreement on the sale of ANN's operations to European Future Media Investments SCS.
The transaction includes several media brands in the former Yugoslavia, including N1, Nova S, Nova BH, daily Nova, portal nova.rs, Radar and Danas. Those media outlets are no longer part of the United Group and now operate under new ownership.
The announcement states that the transfer of Luxembourg licenses for television channels N1 and Nova S will be carried out separately and with the approval of the competent authorities in Luxembourg. The remaining steps will be implemented in accordance with the agreed conditions.
When it comes to certain ownership shares of the United Group in Montenegro, their transfer also depends on the fulfillment of contractual conditions and obtaining the necessary regulatory approvals.
United Group stated that the sale agreement contains provisions that should protect the editorial independence of the media and the separation of editorial and commercial functions even after the change of ownership. It is emphasized that these guarantees were one of the key criteria when choosing a buyer.
The company considers that its exit from the ANN business is essentially complete, which should allow it to focus on telecommunications and media operations in key European markets, in line with its long-term strategy.
The notification also indicates that the employees of the United Group and ANN have worked closely together for years, which is why it will be necessary to resolve the issues of joint operations, projects and information exchange in the coming period. The two organizations will operate as separately managed systems in the future.
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