The European television network Euronews, founded with the ambition of becoming Europe’s answer to the American CNN, has developed close relationships in recent years with politically connected investors and governments facing criticism over the erosion of democratic standards. An investigation by the Raporter website (formerly Euractiv) reveals links between Euronews’ owners and Hungarian Prime Minister Viktor Orbán and Aleksandar Vučić, while former Euronews Serbia employees speak about political pressure, dismissals and a lack of support from the network’s headquarters in Brussels.
According to the Raporter investigation, based on financial documents and interviews with 14 current and former employees, Euronews has undergone a significant transformation in recent years. The television network, originally established to provide European audiences with independent international news coverage, has increasingly come to rely on investors and business partners with close political connections.
At the center of the investigation is Portuguese investor Pedro Vargas David, president of Euronews and one of the key figures now controlling the European media network.
Pedro David also owns the investment fund Alpac Capital, which launched its takeover of United Group’s media outlets in Serbia and the region in 2026, including N1, TV Nova, the Nova website and newspaper, the Radar weekly magazine and the Danas daily. In August, he assumed directorships at the companies through which these media outlets operate in Serbia, following the dismissal of their previous directors.
His investment company, Alpac Capital, acquired Euronews in 2022 with the backing of an individual linked to Hungarian Prime Minister Viktor Orbán, Raporter reports.
Who Is Pedro Vargas David and What Are His Ties to Orbán?
Pedro Vargas David began his career in startup financing before becoming involved in one of the most significant deals in Hungary’s telecommunications sector: the acquisition of Vodafone Hungary.
According to Raporter, analysts view the deal as part of Viktor Orbán’s broader strategy to strengthen his influence over domestic media and telecommunications.
Alpac Capital subsequently expanded its operations into the Portuguese media market before acquiring Euronews in 2022.
An important figure in this story is also Pedro’s father, Mario David, a former Portuguese member of the European Parliament and a close associate of Viktor Orbán.
Mario David has maintained political ties with the Hungarian prime minister for years, while Raporter reports that he also has longstanding connections with Aleksandar Vučić.
When the acquisition of Euronews was announced, Pedro Vargas David presented his investment as a contribution to European democracy.
He stressed that for the European Union to become stronger and more effective, it must become more democratic and accountable, adding that this would be impossible without a free and powerful press.
However, the new owners’ political connections and the television network’s business practices subsequently became the subject of criticism from employees and some European politicians.
Vučić at Euronews Summit: Spoke About His Friendship With the Network Owner’s Father
Raporter’s investigators paid particular attention to the Euronews summit on EU enlargement in Brussels, which also featured an interview with Aleksandar Vučić.
According to the investigation’s authors, the interview was unusually gentle toward a politician whose relationship with democratic institutions and close ties to Moscow have been raising concerns in Brussels for years.
The conversation opened with a question about whether Vučić still considered himself a “committed European.”
However, as Raporter points out, the interview included no questions about mass protests in Serbia, Vučić’s insults directed at European politicians, or tensions between his party and the European People’s Party.
Instead, Vučić commented on the bureaucratic language used by European institutions and mentioned his friend Mario David, the father of Euronews’ main investor.
Mario David has long supported Serbia’s membership in the European Union and knows Vučić through the European People’s Party, Vučić’s spokesperson confirmed to Raporter.
Pedro Vargas David, who was sitting in the front row during the conversation, responded with laughter.
According to Raporter, the event raised further questions about the extent to which the personal and political connections of Euronews’ owners could influence the television network’s editorial decisions.
Euronews Serbia and Telekom: “We Were Told Not to Forget Who Pays Us”
Euronews’ ties with Serbia deepened in 2021, when Euronews Serbia was launched through a partnership with Telekom Srbija, a predominantly state-owned company.
The project was presented as an attempt to combine Western journalistic standards with the local media market.
However, according to accounts from former employees cited by Raporter, maintaining editorial independence gradually became increasingly difficult.
Former employees identify mid-2023 as one of the turning points, when television presenter Minja Miletić became regional director.
“We were told not to forget who pays us,” one former Euronews producer recalled.
Tensions in the newsroom escalated further in April 2025, during mass anti-government protests in Serbia.
Nearly 80 Euronews Serbia employees signed an open letter distancing themselves from a statement issued by the television network’s management regarding the blockade of Radio Television of Serbia.
The journalists claimed that the statement, which expressed support for the public broadcaster, had been published without their knowledge or consent.
Some of those who signed it were subsequently dismissed, while press freedom organizations described the move as retaliation for their public stance.
One case that attracted particular attention was the dismissal of journalist Marija Šehić, which representatives of journalistic organizations described as an example of pressure against reporters who had challenged management decisions.
Regional director Minja Miletić rejected allegations that the dismissals were politically motivated.
She said they were part of a broader corporate restructuring process and denied that Telekom Srbija exerted political influence over editorial policy.
Telekom Srbija also stated that the company does not interfere in the internal operations of Euronews Serbia and considers the television network editorially independent.
Journalists Expected Help From Brussels, but It Never Came
According to employee testimonies cited by Raporter, some Euronews Serbia journalists believed that the European network’s headquarters would intervene if they faced political pressure.
However, they claim that no such intervention ever took place.
“We expected there to be someone we could turn to. If that failed, we thought they would withdraw the license,” an experienced journalist told Raporter.
The case is particularly significant given that media freedom is one of the key issues in Serbia’s EU integration process.
Raporter recalls that European Commission President Ursula von der Leyen emphasized during her visit to Belgrade that progress in media freedom was essential for Serbia to move closer to the European Union.
According to data from Reporters Without Borders cited by the website, Serbia ranks 96th in the World Press Freedom Index, compared with 59th place a decade ago.
Aleksandar Vučić’s spokesperson rejected allegations of political interference in Euronews’ operations.
He stated that Vučić does not concern himself with the “editorial models of foreign media” and that the Serbian authorities continue working with European partners to improve the media environment.
Irina Milutinović of the Institute of European Studies in Belgrade described the Euronews Serbia case as a serious problem for the credibility of a European media brand.
“The European Union cannot stand behind what is happening with Euronews Serbia. This is the erosion of a brand and a test for Brussels,” Milutinović said.
Employees Warn of Self-Censorship and Interference in Journalistic Work
Concerns over editorial independence are not limited to the newsroom in Belgrade.
According to the Raporter investigation, a group of 48 Euronews employees sent an anonymous letter to company president Pedro Vargas David, warning about interference in journalistic work.
“Euronews’ longstanding editorial independence appears to be gradually disappearing. We have repeatedly faced interference in our work, leading to self-censorship and delays in publishing news. This not only jeopardizes our professional standards but also undermines our credibility,” the employees wrote.
The investigation has also raised questions about the responsibility of European institutions, given that Euronews has received substantial funding from the European Union budget for decades.
According to documents obtained by Raporter, the European Commission monitors content financed with European funds, but its oversight does not extend to the entire ownership structure or the television network’s overall editorial independence.
Austrian MEP Helmut Brandstätter has therefore called for greater transparency in Euronews’ operations, stressing that media ownership and financing must be publicly disclosed and journalists’ independence formally protected.
Euronews management did not respond to multiple requests for comment from Raporter.
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