Pluralis B.V., a Dutch-registered company which invests in quality, independent media in European countries where media plurality is at risk, has purchased a minority stake in Croatia’s Telegram Media Grupa d.o.o.. The investment will enable Telegram to further develop its digital advertising and subscription revenue models, and diversify its revenues through expanded content and the development of new formats, brands and products.
Telegram Media Grupa d.o.o. is the publisher of news website Telegram, with additional media brands including Telesport, Super1, PitanjeZdravlja and Openspace, which attract more than 1.3 million unique users per month. Launched in 2015, the company has established Telegram as one of the leading news websites on the market, with an emphasis on investigative journalism and quality content.
Pluralis shareholders, investors and partners are a group of prestigious European media companies, democracy-supporting foundations and impact investors. It is managed by Media Development Investment Fund (MDIF), a New York-registered not-for-profit investment fund for independent media. Pluralis investments aim to support and strengthen investee company management and business prospects, and to help preserve the editorial independence of their news operations.
“It is with great excitement that we’re announcing this new era of Telegram’s development”, said Miran Pavić, Telegram Chief Executive Officer. “We are especially pleased to be partnering with Pluralis and MDIF, considering their vast global experience and deep understanding of the media industry. This investment ensures Telegram’s long-term editorial and financial independence, and significantly boosts our strategic priorities of building market-leading media brands and delivering high-quality content to our readers, subscribers and partners.”
“We are delighted to invest in Telegram, a highly impressive young media company that is already a leader in quality digital journalism and digital subscriptions,” said Harlan Mandel, MDIF Chief Executive Officer and Member of the Pluralis Supervisory Board. “Telegram has a strong editorial backbone providing readers with premier original content and analysis, and is well positioned to take advantage of strong digital advertising and subscription opportunities.”
Pluralis’ current investment portfolio includes Poland’s Gremi Media, publisher of the highly influential Rzeczpospolita daily, and Petit Press in Slovakia, publisher of the leading independent daily SME.
About Telegram Media Grupa d.o.o.
Telegram Media Grupa d.o.o. is one of the leading digital publishers on the Croatian market, focused on delivering high-quality content to its readers, subscribers and partners. With market-leading media brands such as Telegram, Super1 and Telesport, and more than 1.3 million unique users per month, the company produces award-winning journalism of high impact, as well as innovative marketing products for its advertisement partners.
Pluralis B.V. is a Dutch limited liability company duly organised under the laws of the Netherlands with its seat in Amsterdam. The company’s shareholders, investors and partners are a group of prestigious European media companies, democracy-supporting foundations and impact investors, including: King Baudouin Foundation, Tinius Trust, Oak Foundation, Mediahuis, Media Development Investment Fund and Soros Economic Development Fund, as well as other impact investors and family offices.
About Media Development Investment Fund
Media Development Investment Fund is a not-for-profit investment fund based in New York, United States. It provides debt and equity financing supported by technical assistance to independent media companies in countries where access to free and independent media is under threat. With $148 million assets under management, since 1996 MDIF has invested almost $300 million in 148 independent media businesses in 47 countries. Its investments help independent media around the world provide the news, information and debate that people need to build free, thriving societies.