26. 06. 2003

B92 leads the way to media privatisation in Serbia

BELGRADE, June 26, 2003 (B92) – Just over thirty per cent of the socially-owned capital of the Radio B92 Broadcast Company was sold at auction this morning to the New York-based Media Development Loan Fund Inc. for a price of 3,600,000 dinars (about 55,000 euros). Also bidding in the auction were Italian publisher Sport Press and Belgrade businessman Aleksandar Rodic. B92 is the first media outlet in Serbia to be privatised through a public auction. Describing the sale as an important step in the development of the company’s business plans, Radio B92 director Sasa Mirkovic said that he was happy with the result and hoped that other companies seeking ownership transformation would be similarly successful. MDLF deputy managing director Harlan M. Mandel said after the sale that he hoped the investment would pay for itself in some three years. He said that the company’s aim was to assist B92 in achieving its potential and increasing competitiveness while preserving an independent editorial policy and continuing to apply new technologies in the way which has earned it an international reputation. MDLF is a New York based international corporation with branch offices in Prague, Warsaw and Moscow. Its mission is to provide support for the development of professional and responsible media in countries in transition by providing capital on favourable terms, together with training and consulting services. The company has also worked with the daily newspapers SME in Slovakia, Vijesti in Podgorica, Novi list in Croatia, the weekly Feral Tribune in Split, Indonesian radio network 69H, ATV Stavropol and the news portal Malaysiakini.com.