B92

B92 TV pioneered in 2001 before an eager audience and fans of its older brother, Radio B92, the first independent radio station founded in 1989 by prominent journalist Veran Matic. As it was the case with the radio, the TV station’s target audience comprised intellectuals and cosmopolitan, urban youngsters, opposed to the authoritarian and nationalist demagoguery of the country’s then paramount leader Slobodan Milosevic. The democratic changes in Serbia in 2000 did not mean better days for B92, however, as it now competed with a growing number of other independent media. It obtained national frequency in 2006.

Once known for its investigative and high-quality news programs, TV B92 has been soon pushed into more commercial direction, prompting decisions to start broadcasting Serbian versions of Western reality and quiz shows like Big Brother and local versions of the quiz shows Deal or No Deal and Who Wants to Be a Millionaire?

Today, they broadcast commercialised programme and their old fans feel betrayed. The financial situation deteriorated even further with news broadcasting channel B92 Info, launched on April 7, 2008, which was aired on all major cable systems in the country and on the internet, but was allegedly a big financial loss-maker.

Controversy arose over media concentration after the change of ownership in 2010. Namely, a Greek company Lake Bade along with Swedish investment fund East Capital, which already owned shares in B92, formed Astonko as a joint venture. Astonko bought 84.99% of B92 from former shareholders, MDLF and NCA. The B92 Trust, led and managed by the founders and managers of the company, retained 11.35% of the shares, while small shareholders hold another 3.66%. Veran Matic remained editor-in-chief.

Lake Bade is owned by Stefanos Papadopoulos, a co-owner of TV Macedonia. TV Macedonia is part of the Antenna media group, which became the majority owner of former TV Fox, now called Prva TV (also with national frequency in Serbia) in December 2009. Antenna is owned by a Greek businessman Minos Kyriakou and his son Theodore Kyriakou. The case of Prva TV and B92 TV went to the Competition Commission but was soon dropped due to changes in the Serbian legislation in 2014 related to media concentration that made such concentration legal. Since then, the two stations started exchanging staff and in 2015 even moved to shared premises but were never sanctioned for obvious previous concentration of ownership with national frequency. Astonko Ltd and Nova Broadcasting Ltd are located in the same address in Belgrade (Carice Milice 3) which is another confirmation of same ownership of the two media outlets. Besides shared premises and TV studios, the TV stations staff and owners often talk on TV about Prva TV and B92 TV as one company. 

Today, the station is the 5th most popular television in the country with 5.44% audience share, according to Nielsen survey covering the period from March 31, 2016 to April 1, 2017.

Key facts

Audience Share

5.44%

Ownership Type

Private

Geographic Coverage

National

Content Type

Free content

Data Publicly Available

ownership data is easily available from other sources, e. g. public registries etc.

2 ♥

Media Companies / Groups

Antenna Group Serbia

Ownership

Ownership Structure

B92 is majority owned by Greek Theodore Kyriakou, the owner of Antenna Group in Greece, through Astonko Holdings Limited registered in Cyprus and Astonko Ltd. registered in Belgrade that owns 84.99% of B92 TV. Other owners of B92 TV are B92 Trust and small shareholders (founders of the company in 1989)

Voting Rights

Missing Data

Individual Owner

Group / Individual Owner

B92 Trust Ltd

A company dealing with humanitarian projects such as soup kitchens, safe houses, incubators in Serbian hospitals, a campaign "Battle for the Babies", "Battle for knowledge" etc.

11.4%
Media Companies / Groups
Facts

General Information

Founding Year

2000

Founder

Veran Matic

Affiliated Interests Founder

Veran Matic serves as editor in chief of B92 TV news programme. He has been engaged in journalism since 1984 with alternative and youth media in Belgrade, Zagreb and Ljubljana. He began his career with NTV Studio B and in May 1989 he established Radio B92, the first independent radio station in Serbia. Under his guidance, during the past 20 years, Radio B92 has set up and developed its numerous activities with focus on three media - radio, television and internet. Matic is also a co-founder of the Association of Independent Electronic Media (ANEM). He is one of the most uncompromising fighters for media freedom and freedom of expression, leading him to receive numerous prestigious international awards for his work over the last 20 years. He studied world literature at the Faculty of Philology, University of Belgrade. As majority owner of B92 Trust Fund, he appears to be more occupied with Fund’s humanitarian projects such as soup kitchens, incubators in Serbian hospitals, a campaign "Battle for the Babies" etc. Since 2013, he also serves as the Chairman of the Commission for investigating killings of journalists, established in February 2013 on his initiative and supported by the Serbian Government. He is also 100% owner of Samizdat publishing house.

Ceo

Vladan Andjelkovic

Affiliated Interests Ceo

A lawyer who became presiding head of B92 ltd assembly and then acting head, after which he became general manager of Antenna Group Serbia, B92 and Prva.

Editor-In-Chief

Veran Matic

Affiliated Interests Editor-In-Chief

Veran Matic serves as editor in chief of B92 TV news programme. He has been engaged in journalism since 1984 with alternative and youth media in Belgrade, Zagreb and Ljubljana. He began his career with NTV Studio B and in May 1989 he established Radio B92, the first independent radio station in Serbia. Under his guidance, during the past 20 years, Radio B92 has set up and developed its numerous activities with focus on three media - radio, television and internet. Matic is also a co-founder of the Association of Independent Electronic Media (ANEM). He is one of the most uncompromising fighters for media freedom and freedom of expression, leading him to receive numerous prestigious international awards for his work over the last 20 years. He studied world literature at the Faculty of Philology, University of Belgrade. As majority owner of B92 Trust Fund, he appears to be more occupied with Fund’s humanitarian projects such as soup kitchens, incubators in Serbian hospitals, a campaign "Battle for the Babies" etc. Since 2013, he also serves as the Chairman of the Commission for investigating killings of journalists, established in February 2013 on his initiative and supported by the Serbian Government. He is also 100% owner of Samizdat publishing house.

Other Important People

Stefanos Papadopoulos, Theodore Kyriakou

Affiliated Interests other important people

Stefanos Papadopoulos, a co-owner of TV Macedonia. TV Macedonia is part of Antenna Group, which became the majority owner of former TV Fox, now called Prva Srpska Televizija, in December 2009 and later of B92.

Theodore Kyriakou (born in 1974) is CEO and owner of Antenna Group but also a ship owner, a shareholder of the global oil shipping business that his family controls. He also oversees the investment team that manages the financial assets of the Kyriakou family. He sits on the Board of Raine Holdings, the New York based global merchant bank focused on technology, media and telecommunications. Raine Holdings manages Raine Partners and Raine Venture Partners, private equity funds focused on entertainment, digital media and sports, where Antenna Group is a cornerstone investor. Theodore Kyriakou is also member of the Advisory Board of Cambridge University’s Centre for International Business & Management (CIBAM) and member of the Business Advisory Council of the MBA International Program at the Athens University of Economics and Business, as well as Board Member of Endeavour Greece, a global non-profit organization supported by international business leaders.

Contact

Autoput za Zagreb 22, Beograd – Zemun

11000 Belgrade, Serbia

Tel: +381 11 301 2000

Website: www.b92.net 

Financial Information

Revenue (in Mill. $)

1.29 Bil RSD / 11.94 Mio USD

Operating Profit (in Mill. $)

381.06 Mio RSD / 3.5 Mio USD

Advertising (in % of total funding)

Missing Data

Market Share

Missing Data

Further Information

Meta Data

B92 financial records from the Serbian Business Registry are for 2015, as those for 2016 have yet to be made publicly available. The data are for Astonko Ltd and are not provided for B92 TV separately. The exchange rate used for USD is 108.8543 as the average for 2015 when the financial reports were produced, according to the Serbian National Bank. The media outlet is owned by Greeks through the Serbian company Astonko Ltd, as foreigners are not allowed to be direct media owners in the country. Since direct owners are provisional, there are no affiliated interests. Although B92 TV and Prva TV cannot be directly linked through their ownership structure, they are registered at the same address, have shared premises and studios, exchange journalists and other staff, its staff has LinkedIn profile citing to work for Antenna Group Serbia, and Theodore Kyriakou of Antenna Group presents himself in public as the owner of both media as well Vice, B92.net and Play radio.

Sources

  • Reporter without borders
en
sr
  • Project by
    BIRN SERBIA
  •  
    Reporters without borders
  • Funded by
    BMZ