Croatia's Top Independent Radio to Go Bankrupt

"With the possible collapse [of Radio 101], independent journalism will irrevocably lose its place [in Croatia],” Silvija Separovic, chief editor of Radio 101 news program, told Balkan Insight on Monday, a day before the Zagreb Trade Court was expected to announce that the radio is officially bankrupt.  

“Lots of things together led to this, for me personally, terrible moment. In a few words – Radio 101 has been shamelessly robbed in last 10 years by a few employees, while many of the station's investigative journalists calmly watched this happen...," she added.   

The radio station has faced a number of financial obstacles over the past year, with the managing board failing to paying taxes and workers’ social security contributions. The number of employees at the station was cut in half in 2010, and those who have remained haven't been paid their past six montly wages.

Available data suggests that the station owes some 20 million kuna (around 2,9 million euro), mostly to the treasury department.
 
In a country with some 150 radio stations, the legendary Radio 101, which broadcast from the capital Zagreb, was considered the most influential, particularly in terms of quality and independence. During the 1990s it fought against Franjo's Tudjman's regime, gathering some 100,000 people in Zagreb’s main square when the ruling HDZ tried to shut it down.  

After Trade court declares the radio bankrupt on Tuesday, the remaining thirty workers at the station will be sacked. Branko Petanjek, appointed by the court as the station's temporary bankruptcy manager, is then expected to hire the number of workers needed to continue a limited broadcast so the station won’t lose its frequency licence.

There is limited hope that a new strategic partner will emerge in the coming month and absorb the station's debt to allow it to continue broadcasting, preserving one of the most established media brands in the country.