Media Development Investment Fund
funder
| Media Development Investment Fund link () Influencewatch Website | |
|---|---|
| File:Media Development Investment Fund logo.png | |
| Formation | 1996 |
| Founders | Saša Vučinić,Stuart Auerbach |
| Headquarters | New York,Prague |
| Sponsor of | Rappler,Daily Maverick,B92,Gazeta Wyborcza |
| Membership | Elena Popović, Sava Tatić |
| Fund financing a large number of "independent" news and information businesses around the world. Connected to the Open Society Foundations and other usual suspects. | |
The Media Development Investment Fund (MDIF) is an investment fund giving financing to a large number of "independent" news and information businesses around the world. Formed with money from international financier George Soros and his Open Society Foundations and financed by other suspected CIA cutouts, MDIF has given low-cost loans, sophisticated management training and other assistance to organizations in Eastern Europe, the Balkans, Africa, Southeast Asia and Latin America.[1]
It is part of a large network of similar interconnected "philanthropic" foundations. The large number of coordinated donor foundations serves to confuse the actual origins of the money and the total size of this large financing effort.
History
MDIF was founded in 1995 as the "Media Development Loan Fund" by Serbian Saša Vučinić and Washington Post journalist Stuart Auerbach.[2] Media Development Loan Fund is the largest single shareholder of Novi List and Glas Slavonia
Saša Vučinić came to this position directly from the Soros Foundation for which he worked during the Croat and Bosnian wars in Prague. From 1990 until 1993, Saša Vučinić was the director and editor-in-chief of Belgrade radio B92,[3] wich received a large amount of funding from Western governments as part of a regime change effort.
MDLF has financed the split Feral Tribune for many years, and since 1. 5. 2002. he even became a co-owner.
As of February 2023, it had spent $296.3m in total financing, had 146 clients in 47 countries with $141.5m current assets under management.
Former clients include Radio Breeze (Zambia), Los Tiempos (Bolivia), B92 (Serbia), KBR68H (Indonesia), Cambio (Colombia) and ATV Banja Luka (Bosnia and Herzegovina).[4]
Penetrating South African media
In 2017, the Open Society Foundations acquired a majority stake in the newspaper Mail & Guardian through its Media Development Investment Fund.[5]
It also finances the Daily Maverick.
Banned in Russia
In 2016, MDIF was declared an undesirable organization by the Office of Prosecutor General of Russia using Russian undesirable organizations law and put on the List of organisations banned in Russia.[6][7]
Together with King Baudouin Foundation, Tinius Trust and Mediahuis, MDIF is among European media companies, foundations and impact investors who launched Pluralis[8], another media funder.
Funding
MDIF funders and investors include a wide range of organizations and individuals.[9]
References
- ↑ https://www.washingtonpost.com/archive/local/2003/12/20/post-reporter-stuart-c-auerbach-dies-at-68/65452bdd-17ba-4cce-843f-5dd6efeb3907/
- ↑ https://www.mdif.org/about/mission/our-story/
- ↑ https://web.archive.org/web/20080922020454/http://www.iht.com/articles/2005/08/21/business/fund22.php
- ↑ https://www.mdif.org/portfolio/companies/
- ↑ https://www.blackagendareport.com/manufacturing-consent-how-united-states-has-penetrated-south-african-media
- ↑ https://www.hrw.org/news/2016/08/22/russia-bans-more-international-organizations
- ↑ https://www.amnesty.org/en/latest/news/2016/08/russia-declares-two-more-non-profits-as-undesirable/
- ↑ https://www.pluralis.media/
- ↑ https://web.archive.org/web/20230226002635/https://www.mdif.org/about/