Pluralis, safeguarding independent journalism
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Ukrainska Pravda frontline reporter Olha Kyrylenko in Ukraine
Pluralis was established in 2021 to safeguard independent journalism and ensure pluralistic reporting in European countries where media freedom is under threat.
The fund brings together a group of European media companies, foundations and impact investors. It is a joint initiative of the New York-based Media Development Investment Fund, the King Baudouin Foundation in Belgium, Tinius Trust in Norway and Mediahuis. Mediahuis currently holds a 19.17% stake.
In 2025, Pluralis’ activities remained firmly aligned with its mission to support independent journalism in markets facing increasing political pressure.
The fund continued to prioritise the development of its existing investments in Poland, Slovakia and Croatia, while also exploring opportunities in other Eastern European markets, including Romania, Ukraine and Serbia.
Slovakia
Petit Press, publisher of the authoritative SME news brand, consolidated its market position and advanced preparations for a strategic initiative designed to mitigate political risk in Slovakia.
Croatia
Telegram Media Group continued to grow its audience and expand its operations, strengthening both its commercial and editorial footprint. By year-end, it was close to completing two acquisitions to expand its activities to radio and strengthen its economic base. Pluralis provided additional capital to support this expansion.
Poland
An important transaction in 2025 was the transfer of Pluralis’ stake in Gremi Media to PTWP, in exchange for a 23% shareholding in PTWP. Through this transaction, Gremi and its leading Rzeczpospolita news brand became part of a stronger media group. PTWP publishes a series of business-to-business publications and organises the European Economic Congress in Poland, one of Central and Eastern Europe’s leading business and political conferences.
Ukraine
Pluralis announced in early 2026 that it had become a minority shareholder in Ukrainska Pravda, one of Ukraine’s leading independent news outlets. It is known for its public-interest journalism and accountability reporting, with a strong digital-first approach and a national audience of more than 15 million people.