SBS invests in Euro news channel

SBS has added television channel Euronews to its On Demand platform as European leaders grapple with a range of political challenges.

Ukraine's President Volodymyr Zelensky, left, French President Emmanuel Macron and Britain's Prime Minister Keir Starmer speak during a trilateral meeting. Picture: Ludovic Marin/AP

SBS has expanded its suite of live television channels to nine with the addition of Euronews.

The English-language service is available via SBS On Demand.

The channel describes itself as “unapologetically impartial and independent, (delivering) global multilingual news with a distinctly European perspective”.

The arrival of the channel for an Australian audience comes as Europe grapples with the challenging US trade demands and the continuing conflict in Ukraine.

On announcing the new channel’s arrival, SBS director of news and current affairs Mandi Wicks said: “Being well-informed helps us all to navigate a rapidly changing world in which international events and geopolitical developments can shape our lives. The addition of Euronews to SBS On Demand underscores our commitment to delivering a range of global perspectives for Australian audiences.”

The majority owner of Euronews is Alpac Capital with a shareholding of 97.6 per cent. Holding the remaining shares are ADMIC (Abu Dhabi), SNRT (Morocco) and PBS (Malta).

Alpac Capital invested in Euronews in 2022 and last year created unease among some staff when it appointed outspoken former Axel Springer group executive Claus Strunz as chief executive.

Headquartered in Portugal, Alpac also has offices in the United Arab Emirates and Hungary, and reportedly has links to Hungarian Prime Minister Viktor Orbán.

In an article about the news group’s editorial independence six months ago, Politico reported staff concerns that “Euronews could be turned into an EU-sceptic, right-leaning publication”.

Former McKinsey & Co consultant Pedro Vargas David is CEO of Alpac Capital and chair of Euronews – he organised funding of Euro €170m ($307.2m) to acquire the business.

It is claimed there have been substantial losses annually since then partly due to funding cuts from the European Commission.

Euronews chief business officer Maxime Carboni said last week: “We are excited to partner with a leading media network like SBS and become their first international news ad-based partner on SBS On Demand. Euronews’ purpose is to provide an independent view on, and from, Europe in line with the needs of our global audience who seek reliable, independent and fact-based journalism – a hallmark of our group for over three decades.”