In addition to millions of euros in EU support, the European news channel Euronews is said to have received money from commercial deals with foreign (sometimes authoritarian) regimes, according to an investigation by Euractiv.
According to Euractiv, Euronews has been operating at a loss since its inception and is said to have lost around €180 million. They claim it was only thanks to more than €350 million in EU subsidies that Euronews was able to stay afloat.
The financial situation at Euronews was allegedly precarious in recent years: employees testify to extreme cost-cutting measures, with insufficient resources even for basic amenities such as toilet paper. This was followed by a large-scale round of redundancies – with many employees losing their jobs.
Recently, Euronews suddenly became profitable. Euractiv's investigation suggests that this was not thanks to its journalism, but partly due to the harsh austerity measures and new commercial deals the broadcaster had negotiated with authoritarian states.
Euronews is accused of entering into various partnerships and set up subsidiaries in countries such as Azerbaijan, Kazakhstan and Uzbekistan – regimes known for their limited press freedom. It is also said to be exploring deals with Chinese state television (CGTN).
Links with Orbán
This new financing structure has reportedly had a detrimental effect on the journalistic operations at Euronews. Euractiv reports that employees complain about political interference, self-censorship and delays in reporting. In an internal letter addressed to the chair of Euronews, 48 employees warned of the erosion of editorial independence.
The new ownership structure is also causing concern among several employees. There are said to be links with Hungarian Prime Minister Viktor Orbán, as well as with former politicians and investors with influence in the media and telecoms sectors.
Critics say this blurs the line between journalism, lobbying and commercial interests. They state that Euronews's original mission of independent European journalism is under pressure, while the channel still receives European subsidies.
Importantly, Euractiv also noted that under its previous owners, Euractiv itself regularly engaged in commercial arrangements with authoritarian regimes, "though never on the scale of Euronews".
Following Euractiv’s 2023 acquisition by the Antwerp-based group Mediahuis, the organisation's new management wound down those deals, along with projects that rely on EU funding, they said.
