Alpac Capital and United Group Finalize Acquisition of Adria News Network

Alpac Capital Acquires Adria News Network

In a significant move for the media landscape in Southeastern Europe, Alpac Capital, an international investment group, has officially confirmed the acquisition of Adria News Network (ANN) from United Group. This acquisition is set to bolster the existing media assets and further promote a commitment to impartial journalism.

Alpac Capital, known for its robust portfolio that includes Euronews—an internationally recognized broadcaster reaching over 1.5 billion viewers—supports a vision of journalism that prioritizes neutrality and fact-based reporting. The company’s commitment is largely reflected in its operational frameworks which advocate for editorial autonomy. This aligns perfectly with ANN's current operational ethos, guaranteeing the continued independence of its news services.

United Group, the leading telecommunications and media provider in Southeastern Europe, made substantial structural changes in February 2026. This reorganization aimed to unify its news assets across Bosnia and Herzegovina, Croatia, Montenegro, Serbia, and Slovenia under the independent umbrella of ANN. The network includes notable brands such as N1, Nova S, Vijesti, and Danas, reaching an audience exceeding 16 million and employing over 1,000 journalists.

The governance framework that United Group instituted ensures editorial independence while providing necessary business stability. Alpac Capital's acquisition comes as a testament to the effectiveness of this governance model, which separates editorial interests from commercial ones while maintaining a dedicated external advisory body.

Despite receiving numerous unsolicited offers for these valuable news assets, United Group selected Alpac Capital based on its promise to preserve the editorial integrity and the highest standards of journalism established at ANN. The Share Purchase Agreement includes safeguards that maintain the network's independence while also enshrining a clear distinction between its operational and commercial activities.

Following the acquisition, United Group aims to concentrate on its growth strategy within its telecommunications and media sectors across core EU markets. Recent financial reports indicate that the group is doing well, showcasing a positive trend in value creation and growth potential.

A spokesperson for United Group expressed pride in realizing its 2025 goal, ensuring that news assets would remain independent and focused on quality reporting. At the same time, Alpac Capital is excited about the prospects that ANN brings as they emphasize their commitment to support sustainable and independent journalism.

In addition to maintaining its high editorial standards, ANN aims to continue fostering a sense of responsibility towards its audience, focusing on credible reporting and quality content while navigating the evolving media landscape in the Balkans. As the transaction moves toward completion, anticipated regulatory approvals are expected in the second half of 2026, officially marking a new era for ANN under Alpac Capital’s stewardship.

As this transition unfolds, the emphasis remains on the core values of journalism—truth, integrity, and accountability. Both Alpac Capital and United Group are set on a path that respects and reinforces the mission of keeping the public informed through a robust and independent news framework.