Dragan Solak and Victoriya Boklag: Decision to sell ANN media illegal and legally void

In a statement, they said that the decision was adopted at a Board of Directors meeting of the parent company, Summer Parent S.a r.l., which was convened in violation of corporate governance rules and without the participation of representatives of the minority shareholders, who hold approximately 42 percent of the company.

“We believe that both the manner in which the meeting was convened and the decisions reached are legally void. Additional legal proceedings will be initiated regarding these actions,” Solak and Boklag emphasized.

They pointed out that they have already initiated proceedings before the High Court in London to challenge the sale, and that the transaction is being pushed through despite this active litigation. They expressed particular concern over potential political influence on the sales process, a lack of transparency in the selection of the buyer, and the absence of credible guarantees to preserve the editorial independence of the media outlets.

The minority shareholders warned that the sale of the last major independent media in the region would have serious consequences for media freedom and democratic processes.

The statement was released following the United Group Board of Directors’ decision to move forward with the sale of the media business.