Investment Profile


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Pluralis is backed by a consortium of prestigious European media companies, foundations and impact investors committed to a pluralistic news media. Pluralis couples its investment capital with the world-class media expertise of its shareholders. As an investor in media companies of the highest quality regardless of editorial orientation, Pluralis eschews any involvement with a company’s editorial decision-making.
People sitting at desks in a newsroom
A view of the SME newsroom in Bratislava, Slovakia, on December 1, 2018. © SME/Gabriel Kuchta
Investment size $10.75M
Geography Europe
Date 2021

Theory of Change

Pluralis aims to protect the lifeblood of European democracy—independent information—and guard against the growing threat to media independence. The fund invests in European news companies providing independent, quality reporting whose ownership is targeted, or in danger of being targeted, by government or interest groups who aim to infringe on independence of the press to pursue private or political interests. By providing capital with no editorial strings and media expertise, Pluralis fortifies media companies’ sustainability and efficacy while preserving their independence of operation.


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.

Expected Outcomes

  • 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.