Independent media in Serbia under fire: authorities target N1 TV channel
But most Serbian media coverage has reflected the government narrative, depicting student and other protestors, as well as journalists, as “terrorists” conspiring to destabilize the country.
One media group has gone against the grain. United Media, the media arm of United Group, a Dutch telecommunications and media conglomerate, operates several outlets in Serbia, including its most influential station, N1. The channel has livestreamed protests, investigated corruption, and provided a platform for opposition voices.
That editorial independence is now under threat.
Rumors that the government was seeking to neutralize N1, as well as five other United Media outlets in Serbia, have circulated among journalists, opposition figures and the wider public for some time. But new evidence obtained by OCCRP provides the clearest indication yet that Vučić’s allies have sought in recent months to muzzle the broadcaster.
According to a source familiar with internal discussions, as well as photographs and leaked internal correspondence reviewed by OCCRP, the new CEO of United Group, Stan Miller, flew to Belgrade earlier this month to meet with Vladimir Lučić, the CEO of state-owned Telekom Srbija and a close ally of Vučić. The two men followed up a week later with a conversation about Miller’s plans for United Group’s Serbian operations — including a promise from him to fire Aleksandra Subotić, the chief executive of United Media, who for years had ensured that it maintained its independence despite sustained political and market pressures.
Miller was appointed CEO of United Group in June by its majority owner, British private equity firm BC Partners.
He told Lučić he was aware the Serbian president was unhappy that Subotić had not yet been fired as promised, but said he needed more time to remove her because other changes were necessary first, according to the source familiar with the content of the conversation.
OCCRP has not seen evidence that Vučić had instructed Lučić or anyone else to impose changes at N1. However, comments he made in February this year in an interview with pro-government Pink TV suggest that he knew a shakeup was coming. Vučić told the channel that some staff members at N1 would be dismissed in November.
A spokesperson for the Serbian president, in a brief response to OCCRP questions, said that Vučić “did not interfere in the editorial policy of the media, nor was [he] interested in it.”
In written answers to OCCRP, Telekom Srbija CEO Lučić denied discussing the removal of Subotic with Miller.
“We do not involve ourselves in staffing decisions at other companies”, Lučić said, adding that his conversations with the United Group CEO were about “technical and compliance-related issues [...] Nothing related to personnel changes was raised.”
He described his relation to the Serbian president as “Strictly professional and institutional, consistent with operating a major national infrastructure provider.”
Miller did not respond to questions from OCCRP. A United Group spokesperson, however, said: “United Group denies that it is working with any party whatsoever on a campaign to ‘cripple’ or interfere with the editorial independence of the broadcaster behind N1 television.”
Asked for comment on reporters’ findings, Subotić, who has led United Media for nearly 15 years, said it was “unacceptable that a manager appointed by the investment fund BC Partners is discussing her dismissal with the CEO of a competing company, especially Telekom Srbija."
She argued that such talks showed the government’s intention to undermine media freedom in Serbia. Subotić emphasized that she would not allow political or economic pressures to influence the editorial policy of the outlets under her leadership.
A spokesperson for BC Partners, United Group’s majority owner, said: "It has never been, and will never be, unduly influenced by political pressure in any country in which it invests or operates. The company acts in the best interests of the company and its investors. … United Media has always and will continue to guarantee the independence of its editorial and news staff. This has already been confirmed by the company publicly on numerous occasions.”
Executive Changes
The British private equity firm BC Partners bought a majority stake in United Group six years ago from its founder, Serbian businessman Dragan Šolak, but did not start making major changes until February this year, when BC Partners and United Group agreed to sell off some of United Group’s Balkan assets.
Where Does BC Partners Get Its Money?
BC Partners is a private equity firm that gets its money from investors to make acquisitions. According to public filings by its advisory company, between 2011 and 2025 a large share of its money came from U.S. public pension funds and municipal retirement systems, including the California State Teachers’ Retirement System and the New York City Employees’ Retirement System. These institutions have no role in managing BC Partners’ ventures, but their capital ultimately supports the companies that BC Partners invests in.
In April 2025, United Group sold Serbian Broadband, a cable TV and internet provider, to e& PPF Telecom Group, a major telecommunication operator in Central and Southeastern Europe. Around the same time, Telekom Srbija purchased United Group’s NetTV Plus, Total TV, and regional sports broadcasting rights in a deal worth more than 650 million euros.
Telekom Srbija’s purchases were a win in its long-running rivalry with United Group. For years, Lučić has accused Šolak of exploiting state resources to grow his company. Beginning with a small operation in the central Serbian city of Kragujevac, Šolak grew United Group into an international conglomerate.
The situation has changed dramatically in recent years. United Group has repeatedly complained about an unfavorable market climate, arguing that the state was preventing it from expanding and denying it permits to enter new businesses, such as developing a 5G network.
While BC Partners and United Group sold off some Balkan assets to Telekom Srbija, United Group retained United Media, which owns N1, Nova S, TV Vijesti, and other outlets across the Balkans. The sales, however, were swiftly followed by a major leadership shake-up at United Group overseen by Nikos Stathopoulos, chairman of BC Partners. Šolak and then-CEO Victoriya Boklag were abruptly dismissed, and Miller was appointed CEO in June.
Šolak has since launched legal action against BC Partners, suing over a 200-million euro bonus he was allegedly owed, and formally requesting that the Dutch Enterprise Chamber investigate what he calls a “serious governance crisis” in United Group. He also offered to buy out BC Partners’ stake in United Group, but the proposal was reportedly rejected.
Stathopoulos did not respond to questions sent to him through BC Partners and United Group.
’I don’t understand ... these attempts to pressure me.’
There are also signs of turbulence inside United Group’s Serbian operations. On August 20, Bojana Mijailović, the CEO of United Group RS, was abruptly replaced by Vladica Tintor, a former director of Serbia’s Regulatory Authority for Electronic Communications and Postal Services. (United Group RS is not involved in running media outlets. Its role is to employ local staff in Serbia who provide professional services, such as finance, IT, marketing, in supporting United Group’s operations).
Tintor arrived at United Group RS’s Belgrade offices late in the afternoon, accompanied by lawyers from Gecic law firm — which had served as Telekom Srbija’s main legal adviser in an earlier deal with Telekom Srbija — to assume control. Mijailović was not present at the time. The handover was so sudden that Tintor reportedly called the police after building security, unaware of the change, initially refused to let him in.
“I don’t understand this kind of behavior, or these attempts to pressure me and United Group employees in Serbia,” Mijailović told N1 after her removal.
She acknowledged that BC Partners had the right to replace her, but added: “In a civilized world, and in companies with proper governance like United Group has had until now, there is no reason to do things so forcefully and abruptly.”
In a written response to OCCRP, Tintor said the management change was carried out in line with company policy, best practices, and the law.
Media Capture
Telekom Srbija has been at the core of efforts over the past several years to bring influential media outlets in Serbia under government-friendly ownership and editorial control.
Under the leadership of Lučić, who was appointed as CEO of Telekom Srbija in 2020, the state enterprise has pursued an aggressive expansion strategy.
In addition to its acquisitions from United Group, Telekom Srbija has acquired or launched several television stations, including Euronews Serbia, Bloomberg Adria, and Newsmax Balkans, and emerged as one of the country’s largest advertisers, especially in pro-government newspapers.
The buying spree didn’t come cheap: Its 2024 annual report shows that Telekom Srbija is burdened with more than 3 billion euros in debt, largely the result of financing these acquisitions and related investments. But media analysts say these acquisitions have served the Serbian government well by concentrating more outlets under ownership structures aligned with the state, and leaving the country with almost no truly independent media.
Now, leaked emails from within United Group show that staff are worried that their outlets could be next.
Regional management and editors have voiced concerns about risks to editorial independence since the shake-up at the top of the company.
“The continued uncertainty regarding our strategic direction — compounded by rumors of new political alignments or the possible shutdown of media outlets that have served the public interest for more than a decade — is deeply destabilizing for our employees,” Subotić and other directors wrote in an email to BC Partners.
Subotić said they never received a substantial response.
BC Partners didn’t respond to a request for comment on Subotić’s claim.
When asked why N1 and other United Media’s outlets matter, and why she herself has come under pressure, Subotić pointed to their editorial independence. N1, she said, is “a symbol of public interest — one of the few channels that operates independently of political and economic power centers.”
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