Alpac wraps Euronews acquisition
July 6, 2022
By Chris Forrester
The acquisition of the majority of the capital of Euronews by Alpac Capital, announced in December 2021, has been finalised, following the approval of the investment by the French Ministry of the Economy, Finance and the Recovery.
Alpac Capital is an investment fund manager based in Portugal, owned by Pedro Vargas David and Luís Santos.
Recognising the unique European DNA of Euronews and the full potential of the company, Alpac says it intends to strengthen the European identity of the Euronews project, in particular by deepening the dialogue with Members of the European Parliament and the European Commission in Brussels, and by continuing the media’s digitalisation process, as well as its diversification efforts.
“I am very pleased to see Alpac acquire a stake in Euronews. We firmly believe in the need to amplify Euronews’ voice in the European media landscape, and even beyond the continent’s borders,” says Pedro Vargas David. “Europe has experienced times of instability in the past decade: financial, sanitary and now military crises, which, not so long ago, would have been practically unthinkable. The European Union has thus played an even more central role in our lives. For the EU, as it is our wish, to be more efficient and strong, it must be even more democratic and responsible: none of this is possible without a strong and free press”, the CEO of Alpac Capital adds.
Pedro Vargas David added: “Euronews’ European and independent offer must not only be supported but also reinforced” and specifies that “this is the meaning and the purpose of Alpac’s investment”.
Portuguese journalist Graça Franco, former director of news at Rádio Renascença and until very recently Ombudswoman at RTP (Portugal’s public television), has been appointed Chair of Euronews’ Editorial Council.
Commenting on her appointment, Franco said: “Euronews has for nearly three decades now provided a public service mission and will continue to do so. Europe and the world are changing and it is time to try to better explain matters, to fight fake news and to continue to uphold Euronews’ principles, which, even after so many years, are still very relevant. I consider this role to be somewhat of a continuity of my Ombudswoman role. It is the most honourable role that one can be entrusted with: to fight for the freedom of their peers”.
The recent appointment of Guillaume Dubois, former CEO of BFM TV and Director of Broadcasting of LCI – two of France’s leading news channels – as CEO of the group is part of this dynamic which aims to achieve break-even for the company by 2023. “The new impetus given by the arrival of Alpac Capital will allow Euronews to further develop and improve its television and digital offering,” says Guillaume Dubois.
Euronews is broadcast in 160 countries and more than 400 million households worldwide, reaching more than 145 million people every month, both on television and on digital platforms, according to the Global Web Index.