Theory of Change
Pluralis makes investments regardless of editorial orientation to foster a diverse ecosystem of news. Access to a wide range of news sources is fundamental for sustaining European democracy, giving voice to minorities and marginalized groups, and providing forums for divergent viewpoints.
Challenge and Context
Since 2005, independent media in Europe has faced the growing threat of concentrated ownership by politicians and politically aligned oligarchs. The financial crisis of the late 2000s and social media technology has disrupted traditional media models and made purchasing news companies easier for rich oligarchs and governments. Many governments have also altered their regulatory environments to asset more control of information and the use of state funds to finance media has led to interference in media independence. This hostile environment has led to an exodus of foreign media owners in the region, creating the vacuum that was largely filled by local political interests.
Strengthen European independent media and foster public debate by investing into organizations with an established reputation for contributing diverse information, views, or debate in the public interest.
- Invest mission-aligned capital and media expertise into independent media companies to support and strengthen investee businesses
- Greater editorial independence of investees’ news operations by eschewing any involvement with a company’s editorial decision-making
- The creation of a coalition of media houses, foundations, and impact investors to become the investment vehicle of choice for those committed to maintaining diverse media across Europe
Building on Open Society’s long history of support for independent media, Pluralis supports the Foundations’ efforts to fortify quality independent media in markets under political duress.