Euronews is moving into the hands of a Portuguese investment firm, Alpac Capital.
It's been a rocky couple of years for the Lyon-based multi-lingual channel. NBC sold its 25% stake in the company in 2020, after ditching all sorts of big plans for Europe. That gave MGN, Media Global Networks a 90% holding.
Now MGN's Egyptian owner, Naguib Sawiris, is unloading his interest.
“In the coming months, we will have to build a resolutely digital project so that, with this transformation, Euronews can take its rightful place in Europe,” said Pedro Vargas David, chief executive of Alpac Capital.
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