Kompanija Novosti

Kompanija Novosti

Kompanija Novosti was founded in 2002 and part of it was privatized in 2006. Milan Beko, a Serbian businessman and former government minister in Slobodan Milosevic’s era, bought a controlling stake in Novosti through a network of companies. This privatization is one of 24 murky cases in which the Anticorruption Council, an independent government body, found irregularities and which the European Union has demanded that Serbia should investigate properly. Over the years, it has emerged that a number of hidden groups and individuals, including German media group WAZ and controversial Serbian businessman Stanko Subotic Cane, were involved in the privatization of Novosti. Subotic claimed that WAZ gave money to Beko in order to acquire Novosti but shares were never ultimately transferred to them.

Furthermore, Miroslav Bogicevic, who bought the newspaper Politika because, in his own words, individuals from the Democratic Party asked him to do so, also wanted to buy Novosti for the same reason. In interview to weekly Nedeljnik, Beko said that he doesn't know to whom he should give money for Novosti buyout, to WAZ or Bogicevic.

The Securities Commission of Serbia imposed a ban on the voting rights for the privatized shares of Novosti because of the disputed situation.

Key facts

Business Form

mixed

Legal Form

limited liability company

Business Sectors

printing, publishing

Ownership

Republic of Serbia

29.5%

Individual Owner

62.2%
Media Outlets
Other Media Outlets
Facts

Media Business

Printing

Štamparija Novosti (50)

Business

Publishing

Novosti Press, Podgorica,
Montenegro(100)

General Information

Founding Year

2002

Employees

387

Contact

Trg Nikole Pašića 7, 11000 Belgrade Serbia

Tel: +381 3028-000

Website: www.novosti.rs

E-mail: redakcija@novosti.rs

Tax/ ID Number

Tax number 100002348 ; ID number 070409627

Financial Information

Revenue (Financial Data/ Optional)

15.1 Mio. $/1651.5 Mio. RSD

Operating Profit (in Mill. $)

-0.018 Mio. $/-2.02 Mio. RSD

Advertising (in % of total funding)

4.4 Mio. $/ 487.8 Mio. RSD / 29%

Management

Executive Board

Srdjan Muskatirovic

Srdjan Muskatirovic is former tennis player who played for Yugoslavian Davis cup team and in 1992 on Olympic games in Barcelona. According to his biography from Novosti's website, in 1997 he graduated from Faculty of Economics, University of California Los Angeles (UCLA). After that, Muskatirovic worked for banks in Los Angeles and London until in 2001 he became advisor in National bank of Serbia. In his career, he also worked for branch of Laderna International BV, company connected to Mlan Beko. Muskatirovic was appointed as managing director of Novosti in July 2017 after Ratko Dmitrovic's resignation on that position was accepted.

Supervisory Board

Tatjana Vidojevic, President of the Supervisory Board - journalist who has worked as an editor primarily on television. She was a representative of the ruling Serbian Progressive Party while she was working in Belgrade municipalities and the Ministry of Culture.

Further Information

Data Unavailable

ownership data is not publicly available, company/channel denies the release of information or does not respond, no public record exists

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Meta Data

Data about revenues from advertising were used from Kompanija Novosti Consolidated annual report on operations while data about revenues were used from Kompanija Novosti Income statement.

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