Alpac Capital and Summer Parent S.à r.l., the ultimate shareholder of United Group, announced that they have reached an agreement for the sale of Adria News S.à r.l., the company behind Adria News Network (ANN).
Alpac Capital is an international investment group with experience operating media assets, including its majority ownership of Euronews, one of the world’s largest news networks. Through this acquisition, Alpac Capital said it intends to provide ANN with long-term stability while supporting its editorial independence and commitment to fact-based journalism.
United Group, a telecommunications and media provider in Southeastern Europe that is majority-owned by BC Partners, established ANN in February 2026 by combining its news operations across Bosnia and Herzegovina, Croatia, Montenegro, Serbia, and Slovenia under a single independent brand. ANN includes well-known media brands such as N1, Nova S, Vijesti, and Danas, serving a combined audience of more than 16 million people and employing over 1,000 journalists and staff.
At the time of ANN’s formation, United Group introduced a governance structure that included an independent board and oversight from an Editorial Council composed of senior international media professionals. According to the company, this framework was designed to safeguard editorial independence while ensuring transparency, stability, and resilience for the business. ANN is licensed and regulated within the European Union, with its licenses containing protections related to editorial independence.
Following the creation of ANN, United Group received multiple unsolicited expressions of interest from potential acquirers. Alpac Capital was ultimately selected because it offered the highest value while agreeing to the governance and independence principles established for the network.
The Share Purchase Agreement includes contractual provisions designed to preserve ANN’s editorial and operational independence, maintain a separation between editorial and commercial functions, and continue oversight from an independent external advisory body.
United Group said the transaction aligns with its broader strategy of focusing on its telecommunications, media, and technology operations across core European Union markets. The company noted that its recent first-quarter results reflected continued growth and value creation across the business.
The transaction remains subject to customary regulatory approvals and is expected to close during the second half of 2026.
