The international investment group Alpac Capital and Summer Parent S.à r.l., the majority shareholder of United Group (“the Group”), confirm today that they have reached an agreement for the sale of Adria News S.à r.l.
As noted in the relevant announcement, Alpac Capital has extensive and well-established experience in managing news media at the international level. Its majority stake in Euronews, one of the world’s largest news networks, reaches more than 1.5 billion people in over 160 countries, broadcasting content in 19 languages.
This acquisition provides Adria News Network (ANN) with a strong platform for growth and an owner aligned with its editorial principles, ensuring the long-term independence of these important news outlets. Alpac Capital is committed, as evidenced by its ownership of Euronews, to promoting neutral, fact-based journalism that adheres to the highest editorial standards.
United Group is the leading telecommunications and media provider in Southeast Europe and is majority-owned by the international investment firm BC Partners.
In February 2026, United Group consolidated its news outlets in Bosnia and Herzegovina, Croatia, Montenegro, Serbia, and Slovenia under the independent ANN brand, which has its own fully independent board of directors and is overseen by an Editorial Board composed of experienced international media professionals.
ANN’s renowned and award-winning media outlets, including N1, Nova S, Vijesti, and Danas, provide news across multiple platforms to an audience of over 16 million people, employing more than 1,000 journalists and staff members.
The governance framework established at the same time was deemed the most effective way to protect editorial independence, while also providing stability, transparency, and resilience to the company’s operations, in accordance with the commitments made by BC Partners and United Group’s management in 2025.
The Adria News Network holds operating licenses within the European Union and is subject to the relevant regulatory framework, with its licenses providing guarantees regarding its editorial independence.
Following the creation of ANN, United Group received several unsolicited proposals from interested parties wishing to acquire these news assets.
Alpac Capital was selected as it submitted the most attractive proposal in terms of value, while also meeting the governance and independence principles established from the outset. The Share Purchase Agreement includes contractual safeguards that preserve ANN’s editorial and operational independence, ensuring a clear separation between editorial and commercial activities and providing for the maintenance of an independent external advisory body.
United Group remains committed to implementing its strategy in key European Union markets, advancing its growth investment agenda in the telecommunications and media sectors, creating long-term value for all stakeholders. The Group’s recent strong first-quarter financial results confirm its continued growth and the value it generates.
Statement by a United Group spokesperson
“This transaction fulfills a clear objective set by the Group in 2025: to ensure the long-term independence of our news media. Upon completion of the transaction, United Group will focus entirely on creating value for all its stakeholders through its activities in the telecommunications, media, and technology sectors in European markets.”
Statement from an Alpac Capital spokesperson
“ANN is a significant addition to our media portfolio, and we will continue to invest in it with the aim of further developing and growing it. At Alpac, we believe in journalism that is fact-based, neutral, and independent, underpinned by sound and sustainable operational and financial performance. These principles are not just words; they are demonstrated daily by the work of our journalists and recognized by all independent and reputable market organizations.
We are also proud of our open, European orientation and understand the importance of European Union enlargement for the Western Balkans. This commitment will be reflected in ANN’s editorial values as well as in its long-term trajectory.
Alpac is fully aware of the significance and responsibility associated with this transaction and firmly believes that it will make a positive contribution to the countries where it is further strengthening its investment presence.”
The completion of the transaction is subject to customary regulatory approvals and is expected to take place in the second half of 2026.