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The long awaited entry of US media house NBCUniversal into pan-European TV news broadcaster Euronews was finally made official this week. NBCUniversal, through the NBC News subsidiary, now has a 25% stake, reportedly for US$30 million. More significantly, NBC News has taken significant operational control. Euronews will soon be known as EuronewsNBC.
"The expertise of NBC News combined with the uniqueness of Euronews' European DNA, will allow us to fully realise our 'All Views' editorial philosophy,” said Euronews chief executive Michael Peters in a statement. “In the competitive international news market, Euronews aims to be the go-to media outlet for expertise on European affairs.” NBC News International president Deborah Turness will provide “editorial and programming leadership and strategic guidance.” (See Euronews press release here) Ms Turness had been NBC News president until this past February, when the new position was created.
Egyptian financier Naguib Sawiris, through Media Global Networks, remains the major shareholder in Euronews. He essentially bailed out Euronews a bit more than two years ago for €35 million, roughly US$40 million, taking a 53% stake, which has now grown to 60%. The large group of public and state broadcasters that originally founded Euronews nearly 25 years ago have seen their aggregate ownership stake shrunk to 15%. (See more about TV news here)
Mr. Peters had been looking for a wealthy strategic partner for several months, NBCUniversal rumored to be the one most interested late last year. European investors kept to the sidelines. “No one was interested,” said Mr. Peters, quoted by Belgian public broadcaster RTBF (May 31). "I let everyone draw their conclusions.” Some public broadcasters - notably Turkish TRT, Greek ERT and Ukrainian NTV - have diminished participation.
Euronews operates 12 language channels. That, apparently, will not change. For NBC News it is clearly an entrée to Europe where the primary TV competitors for opinion makers - and carriage fees - are CNN International and the BBC. Looming large, perhaps, is Sky News if 21st Century Fox is given regulatory nod to take over Sky plc.
Mr. Peters told a conference call that Euronews will be profitable by 2020. “NBC stated that its money was for investment in content production and not pay back debts.” Euronews headquarters will remain in Lyon, France with coverage capacities added to the Brussels bureau.
Finland’s public broadcaster YLE quickly shed head of news Atte Jääskeläinen after an unforced error in the pages of the country’s biggest newspaper. It is another chapter, likely not the last, in a saga that has scarred the country’s standing as a pinnacle of press freedom. The well-regarded YLE has also been tarnished.
Mr. Jääskeläinen was quoted by Helsingin Sanomat (May 28) saying YLE might leave Finland’s self-regulated press freedom monitor Council for Mass Media (JSN). “YLE is a voluntary JSN member. If JSN starts to determine YLE's journalistic policies too much, then YLE must surely set up its own body for that.”
That was sufficient to set off alarm bells. Last December two YLE reporters working on a conflict of interest story involving Prime Minister Juha Sipilä quit saying Mr. Jääskeläinen had edited the story to reflect “scaling back” coverage after the prime minister complained. YLE chief executive Lauri Kivinen supported Mr. Jääskeläinen’s decision. A parliamentary committee cleared PM Sipilä in February of the alleged conflict of interest. In March the JSN determined that Prime Minister Juha Sipilä interfered with news coverage of a conflict of interest story. In April RSF booted Finland from top ranking in its press freedom index, held for five years, to 8th place citing the “Sipilägate” revelations. (See more about media in Finland here)
A day after the newspaper article Mr. Jääskeläinen took to Twitter (of course) to back-track. “Of course YLE isn't leaving the JSN,” reported YLE (May 29). Minutes later, Mr. Jääskeläinen was leaving YLE. “The purpose of this solution is to safeguard the operating environment of YLE News and current affairs,” said YLE board chairman Thomas Wilhelmsson in a statement. An interim replacement was named as YLE begins a formal search.
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