# N1 media network ownership and management changes

> Live situation record from CLSTR: https://clstr.news/situations/n1-media-network-ownership-and-management-changes
> Updated: 2026-10-04T13:59:52.000Z. Sources: 11. Developments: 2.

Following the acquisition of Adria News Network by the Portuguese investment fund Alpac Capital, the N1 television network has undergone significant restructuring. This transition included personnel changes, such as the removal of N1 Croatia’s news director, and the cancellation of the program ‘24 minutes with Zoran Kesić’ on Serbia’s Nova S channel, which triggered protests in Belgrade.

In response to these changes, the Luxembourgish electronic media regulator, ALIA, launched an investigation into the network’s ownership and management across Serbia, Croatia, and Slovenia. The probe seeks to determine if Alpac Capital, owned by Portuguese businessman Pedro Vargas, has gained effective control over programming and whether this has compromised editorial independence, specifically regarding election coverage in Serbia.

Recent developments indicate that N1’s editorial staff reported management applied for a Serbian broadcasting license through the Regulatory Authority for Electronic Media (REM) in early October without consulting the newsroom. ALIA has confirmed that the station’s Luxembourgish license remains active and clarified that the application to REM does not automatically transfer N1 from Luxembourgish to Serbian regulatory jurisdiction. The regulator continues to examine whether actual control over programming was transferred during the ownership shift and whether owners or management have exerted pressure on journalists or influenced reporting.

## Claims

- The Luxembourg media regulator ALIA confirmed that N1’s Luxembourgish license has not been withdrawn. (corroborated by 3 sources)
- N1 management applied for a Serbian broadcasting license in early October without consulting the station's editorial staff. (corroborated by 3 sources)
- N1 management failed to formally notify the Luxembourg regulator, ALIA, about the intention to apply for a Serbian license. (corroborated by 3 sources)
- Submitting an application to the Serbian regulator (REM) does not automatically transfer N1 from Luxembourgish to Serbian regulatory jurisdiction. (corroborated by 3 sources)
- ALIA is investigating whether changes in ownership and management of N1 have impacted editorial independence or led to pressure on journalists. (single source)
- Alpac Capital, owned by Pedro Vargas, took control of several media outlets including N1, Nova S, and Danas in late August. (single source)

## Timeline

### 2026-10-04: N1 media regulator investigates ownership and editorial control

Luxembourg's media regulator ALIA is investigating N1 television regarding ownership changes and editorial independence following a takeover by Alpac Capital.

5 sources. https://clstr.news/cluster/luxembourg-regulator-investigates-n1-media-ownership-changes

### 2026-09-26: N1 publisher applies for new news television channel in Croatia

Adria News, publisher of N1, has applied for a new specialized news TV channel in Croatia following its acquisition by Portuguese fund Alpac Capital.

6 sources. https://clstr.news/cluster/n1-publisher-applies-for-new-news-television-channel-in-croatia

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Cite as: N1 media network ownership and management changes. CLSTR, https://clstr.news/situations/n1-media-network-ownership-and-management-changes