Only two days after N1 aired a documentary about the role of the private Megatrend University in nostrifying Serbia's Interior Minister Nebojsa Stefanovic's diploma, and its non-existent schools and lecturers, Mica Jovanovic, the owner, told reporters on Thursday he sold the University to the German funds' consortium, N1 reported.

Jovanovic added he would end his career and left Serbia to live in France, after, as he said, N1's documentary was a peakof the negative campaign against him and his UNiversity.

He said he sold 100 percent of the Megatrend ownership to Dejan Djordjevic, the German consortium representative in Serbia for €56.1 million, adding he considered the move as another German investment in the country.

Jovanovic said the contract stipulated that the new owner had to invest another €150 million in the development of the University in the next five years.”

“I'm withdrawing; I won't live here anymore. I have a home in southern France, in Cannes. I'll soon move there, hoping to be outside the reach of some nice journalists and TV stations,” Jovanovic said.

He added his decision came after “a media lynch and a five-year-long negative campaign which ended in the drop of student enrolment rate for 400 percent.

“The reasons are the media lynch and campaign, with N1's film as a peak,” Jovanovic said.

Jovanovic added he also had enough of accusations by members of the opposition Alliance for Serbia group, during whose rule “Megatrend flourished.”

He said he refused the offered state financial and moral aid because that would have “exploded like a bomb,” and “the spitting (on him) would have intensified.”

Jovanovic added he was not a member of the ruling Serbian Progressive Party but its leading coalition partner the Socialist Party of Serbia.