Media Owners, Economic Power through Businesses and Capital, Audiovisual Media June 2023

Open Data Albania is presenting evidence regarding the Economic Power of twenty-seven primary shareholders in Television Media, specifically within Business Companies that oversee the operation of major screens and television channels. As the foremost television entities in the country, the ranking includes 14 companies that hold licenses issued by the Audiovisual Media Authority, while also reporting declared capital and profits. We will detail the economic influence of these 27 individual shareholders by cataloging the Businesses in which they hold shares, categorizing them based on sectors, capital investment, and economic performance. Similarly, we will identify businesses operating under PPP Concessions, those with Strategic Investor Status, beneficiaries of the Albania 1 Euro Program, as well as enterprises holding National Licenses – all of which ultimately come under the ownership of these individuals, who are Owners in Television Media.

The information has been obtained by accessing the records from the National Business Center’s company registry. Passports for audiovisual media companies are organized effectively and cover a wide range of details in the Open Corporates Albania database, specifically within the “Media Businesses” section.

Shareholders and partners of media businesses have been previously featured in the article titled “Owners of Audiovisual Media Based on Capital and Indirect Control,” whereas the companies’ ranking according to earnings in a specific year has been published in the article “Revenues and Profits of Companies Functioning as Audiovisual Media in 2021.”

In this article, we will specifically enumerate businesses and sectors in which individual shareholders hold ownership in Television Companies, as outlined in the table below.

Tabela: Owners in Television Media Businesses
Source: Open Corporates Albania
Comments and Analyses: Open Data Albania

Source: Open Corporates Albania
Comments and Analyses: Open Data Albania

The two shareholders of the TV Klan company, Ms. Alba Gina (holding 40%) and Mr. Aleksandër Frangaj (holding 60%), have direct or indirect ownership or partnership in various other companies. To be precise, Mr. Frangaj is associated with 12 companies, while Ms. Gina is connected to 9 business entities. In six cases, they share ownership.

Mr. Frangaj, a shareholder and co-founder of TV Klan, holds direct ownership in eight additional companies across various economic sectors, including Construction, Real Estate, Telecommunications, and Television rights

Having complete ownership of the capital, Mr. Frangaj is a shareholder in two companies engaged in construction and real estate, specifically within these two companies:

AS Construction shpk was founded in 2019 in partnership with Frangaj and Balfin shpk. However, Balfin shpk later withdrew by selling their shares, resulting in Frangaj becoming the sole owner of the company.
IREA.AL shpk was established in 2022.

Other companies owned by Mr. Frangaj for a portion of shares and quotas are:

Alias Development operates in various construction and reconstruction activities, where Mr. Frangaj owns 29% of the capital and became a partner in the company after 2021. Other partners of the company are Agim Zeqo, Ilir Daci, Glon Bakalli, Dael Dervishi, Anjola Aliaj
Portat e Fatit organizes activities of games of gambling and lotteries
Satelit + Sh.A. operates in the purchase and sale of television rights and advertising services, where Mr. Frangaj owns only 3.33%
Media 66 offers television and advertising productions in the audio and video field, etc. Mr. Frangaj owns both directly and indirectly through Tv Klan, 54.1%
Mr. Frangaj owns 10% of the capital in the company AN.NIK with co-partner Mr. Andon Dhima

The list of businesses indirectly owned by Aleksandër Frangaj is fixed at 5 companies: Media 66, Print 2000, Radio Klan, Towers Network Albania, and Plus Network. Print 2000 is a printing press for publishing various materials, suspended since 2016

Source: Open Corporates Albania
Comments and Analyses: Open Data Albania

Alba Gina, a partner with 40% of the shares in Tv Klan, is also a direct shareholder in the satellite platform Digitalb, owning 8% of the shares. Digitalb provides telecommunications network services, film productions, and television broadcasting.

Ms. Gina is revealed to be an indirect owner in 7 business companies: Print 2000 (suspended), Empire (suspended), Radio Klan, Towers Network Albania, Media 66, ADTN, and Plus Network.

Source: Open Corporates Albania
Comments and Analyses: Open Data Albania

The Hoxha Family heirs of the founder Dritan Hoxha. The national television Top Channel, which ranks second in terms of profit (for the year 2021 with around 1.59 billion Albanian lek). In March 2001, Dritan Hoxha founded Top Channel, and after his death, his spouse and four descendants inherited the business companies.

Vjollca Hoxha, is a direct shareholder (by percentage) in 12 business companies. In four companies, the Hoxha Family is a joint shareholder based on inherited capital from Mr. Dritan Hoxha. Specifically:

Top Channel, the national television where Ms. Hoxha and her children Lorela, Sara, Redia, and Itan each own 20%, while Lorela is also an administrator of the company.
Valtelina, or the Coffee Company, dealing with import-export and all processes related to this product, is similarly owned by the five legal heirs of the founder Dritan Hoxha. The company was established 30 years ago in 1993, and its trade name is Lori Caffe.
Video Graphic Agency (VGA) active in publishing, advertising, and advertising spaces in written and visual media, is also owned by each member of the Hoxha family, with 20% of the capital.
Vini & Food sh.p.k operates in the wine trade. The five descendants of Mr. Dritan Hoxha each own 7% of the capital there, while other partners are Eduard Poda, Alberto Rancini, and Agim Dani.

Companies owned 100% by Ms. Vjollca Hoxha are also:

Anima 08 operates in the construction of various buildings and the production of construction materials, as well as wholesale and retail trade. Established in 2022.
My Music provides local radio and television broadcasting services.
Gazeta Shqip Online offers services in written and online media, as well as publishing various materials.
Shqip provides services in the field of written and online media, as well as the publication of various materials.

Meanwhile, in several entities, Ms. Vjollca Hoxha holds partnerships with other partners and shareholders, such as:

KudoPay, a company in finance and technology, where Ms. Hoxha owns 17%, Ms. Stella Gugallja owns 67%, and Mr. Adriano Kadriu owns 16%.
Plus Communication offers consultancy and assistance services to third parties. Here, Ms. Hoxha owns 12.43% of the shares.
Publialb, an advertising agency operating in the field of written and audiovisual media, established in 2019, where Ms. Hoxha is a shareholder, each with 50%, along with Ms. Eva Blushi.
Saras – a publishing house where she owns 50% jointly with partner Mr. Besnik Myftari.

Source: Open Corporates Albania
Comments and Analyses: Open Data Albania

Lorela Hoxha, is a direct owner of 8 business companies: Loresa, Noor, Top Albania, Top Channel, Top News, Valtelina, Video Graphic Agency (VGA), Vini & Food sh.p.k., and BLF.

In addition to the four companies where she owns together with other members of the Family, Ms. Lorela Hoxha is also an owner or founder in four other business companies in the trade, coffee processing, media, and tourism sectors. Specifically, the other companies are as follows:

Top Albania Radio holds 10% of the shares under the ownership of Ms. Lorela Hoxha, with her two sisters and brother also owning the same amount. Two other shareholders in this company are Zhuljeta Lamaj and Ervin Zeneli.
Loresa is a company owned by the two sisters Lorela and Sara. The company owns shares of Digit-ALB.
Noor is engaged in trade and coffee processing, as well as administrative services in managing Bars-Cafés Hotels-Tourism. Ms. Lorela Hoxha owns this company solely. The company was founded in 2017.
Top News, an advertising agency and a 24-hour news broadcasting channel, is fully owned by Lorela Hoxha, following the transfer of shares from her mother Vjollca Hoxha.
BLF, a suspended company, is owned by Lorela Hoxha for the purpose of activity as a travel agency for national and international passenger transport.

In total, through indirect ownership, Lorela Hoxha is an indirect owner of three companies: Digitalb, ADTN, and Empire.

Source: Open Corporates Albania
Comments and Analyses: Open Data Albania

Sara Hoxha owns directly 6 business companies: Loresa, Top Albania, Top Channel, Valtelina, Video Graphic Agency (VGA), Vini & Food sh.p.k. In each of them, she owns together with members of her family, her mother, sisters, and brother. Similarly, through these companies, she indirectly owns shares in Digitalb, ADTN, and Empire.

Source: Open Corporates Albania
Comments and Analyses: Open Data Albania

Redia Hoxha is a direct shareholder in 6 business companies: Digitalb, Top Albania, Top Channel, Valtelina, Video Graphic Agency (VGA), Vini & Food sh.p.k.; and an indirect owner in two companies: ADTN and Empire. Valtelina, a company for coffee production and processing (“Lori Caffe”).

Source: Open Corporates Albania
Comments and Analyses: Open Data Albania

Itan Hoxha, the youngest of the Hoxha family, is a direct owner in six business entities: Digitalb, Top Albania, Top Channel, Valtelina, Video Graphic Agency (VGA), Vini & Food sh.p.k.; and indirectly in two entities: ADTN and Empire.

Source: Open Corporates Albania
Comments and Analyses: Open Data Albania

The Hoxha Family, in total, are major shareholders in 20 different business companies, out of which 10 entities operate in the field of media and audiovisual services. Among them, three hold National licenses.

Among the companies that have their financial reports published in the Central Bank of Albania, Digitalb reports the highest turnover for the year 2021, approximately 4.2 billion Albanian lek, followed by Top Channel television with 1.6 billion lek, and the “Lori Caffe” production company, Valtelina, with 385 million lek.

In a list of accounting profits, Top Channel and Valtelina stand out with the highest positions, ranking as the companies with the highest pre-tax profits, namely 205 million lek and 43 million lek, respectively. Among the companies generating profits, the highest profit margin is reported by the trading company Loresa (13.4%), followed by Top Channel (12.9%), and Valtelina (11.3%).

Source: Open Corporates Albania
Comments and Analyses: Open Data Albania

Dulaku Brothers with Vizion Plus media, the third television with a national license. They have been shareholders since its foundation in 2012.

Artan Dulaku is a direct shareholder in 9 companies and an indirect owner in 21 others. The businesses are mainly in the Construction sector, also distinguishing themselves in Tourist Infrastructure, as well as owning businesses in the Internet and trade sectors, aside from media. Dulaku is in partnership with his brothers Genci and Ardian.

Alba – Beton in infrastructure construction is owned by the Dulaku brothers and Erion Harizi, who holds 15% of the shares. The company was founded in 2003.
Albanian Satellite Communications provides services in the field of telecommunications and electronic communications, satellite transmission, audio and video services, etc. It is owned by the Dulaku brothers and the foreign partner Benjamin Feinberg, who holds 12%
Concord Investment is one of the largest companies in the country in the construction sector. It is owned by the three Dulaku brothers and has obtained the status of Strategic Investor, as well as several Council of Ministers Decisions. Details about this company can be found in the Passport Created on the Open Corporates Albania website.
D & L Administrim a company where Artan Dulaku operates in partnership with Mr. Arian Leskaj
INER operates in the wholesale and retail trade sector, with the Dulaku brothers as partners.
INTER-GAZ SHA operates in the trade of gas, oil, and their by-products, in partnership with Piro Bare.
Media Vizion also in partnership with the Dulaku brothers.
Stai Prefabbricati Albania operates in the construction sector, with Mr. Artan Dulaku holding 12.5% of the capital.
C O N D O R currently a suspended company.

The list of business companies indirectly owned by Artan Dulaku, as of May 2023, is fixed at 21 economic entities, mainly in construction and tourist infrastructure:

Alba Investment for investment and construction of the “Gone-Perivol Tourist Complex,” founded in 2021 in partnership with a company owned by Ndricim Babasi.
Tring Tv offers audiovisual services, as well as the construction of telecommunication systems, and is owned by Concord Investments, thus indirectly owned by the Dulaku family.
Safe Security Albania engaged in administrative and real estate services, is also owned indirectly by Concord Investment.
Marina Orikum engages in tourism activities and investments in the tourism sector, financial operations, real estate activities, import-export trade, etc. This company is also indirectly owned through Concord Investment.
Marina Bay Saranda a tourism development, is owned as a 50-50 joint venture between Concord Investment and Kastrati Group.
Management Hospitality Albania operates in the tourism sector and is owned by Concord Investment.
Bleta operates in media signal retransmission and internet services, being a company under the ownership of Concord Investment.
Arameras operates in the construction sector, sales, complexes, and hotels. Apart from Concord Investment owned by the Dulaku brothers, shareholder in this company is Bujar Qirko with 3.33%; Fredi Muci 3.33%; Artan Leskaj 12.5%; Gjergj Hoxha 10%; Arben Dervishaj 10% and Luan Duraj 10%.
Alissa Albania operates in the production of various construction materials, as well as the construction of different types of structures. Owned by Concord Investment.
Albeton 5 is engaged in the production of construction materials, financial activities, tourism services, trade, etc.
Adriatika Beton operates in the production of construction materials and the construction of various structures.
Albania Motor Company operates in the automotive market. The company has a foreign partner.
EDIL – AL – IT is involved in the construction of various structures. The company also holds shares in a Concessionary company Marina Limion in partnership with Kastrati Group.
TV Kabllor Shijaku provides cable television services.
Albanian Destination Management Organisation offers tourism and real estate services, with other partners being Fatos Demiri at 40% and Eltona Ibrahimi at 20%.
Gallery Albanian Restorant is engaged in Bar-Restaurant-Pizzeria activities and wholesale and retail trade.
Marina Limion, a company for the implementation of the concession “Reconstruction, Operation, and Transfer of the tourist port Marina Limion.”
Elbasan Tv operates in local television broadcasting and local radio retransmission.
Iberic Dress Style is engaged in trading activities.

Source: Open Corporates Albania
Comments and Analyses: Open Data Albania

Kastrati Group emerges as the main partner of the Dulaku brothers, owning 50% of the ownership in both concessionary companies held by the Dulaku brothers, Marina Bay Saranda and Marina Limion. Other partners include Arian Leskaj, a partner with Artan Dulaku in three business companies; Ardian Muka in two business companies; Piro Bare with 50% ownership of Inter-Gaz sha; Reita Haçka with 49% ownership of Alba Inerte & Konstruksion; Ndriçim Babasi with 49% ownership of Alba Investim, etc.

Foreign partners with Mr. Artan Dulaku include the Italian company Prefabbricati Industriali Stai Srl, which owns 75% of the shares of Stai Prefabbricati Albania; Israeli citizen Benjamin Feinberg, owner of 12.5% of Albanian Satellite Communications; and the Cypriot company Grand Dalewest Limited, which owns 50% of the shares of Albania Motor Company.

In a ranking based on pre-tax profits, Concord Investment leads the list again, with a gross profit of 1.24 billion Albanian lek.

Source: Open Corporates Albania
Comments and Analyses: Open Data Albania

Genci Dulaku is a direct shareholder in 5 business companies and an indirect owner in 21 others. These are primarily companies in partnership with the Dulaku brothers, who were listed above.

Source: Open Corporates Albania
Comments and Analyses: Open Data Albania

Adrian Dulaku is a direct shareholder in 8 business companies where, in addition to the businesses he co-owns with his brothers, there are also other companies such as:

B.I.C. engages in trading activities.
Fonte-Fontana operates in the wholesale and retail trade sector.
Dufe operates in the wholesale and retail trade sector of various items.

Source: Open Corporates Albania
Comments and Analyses: Open Data Albania

Foreign co-partners with Adrian Dulaku include Italian citizen Marco Fermi, owning 70% of Dufe’s shares; Italian citizen Matteo Scalco, owning 50% of B.I.C.’s ownership; and the Cypriot company Grand Dalewest Limited with 50% ownership in Albania Motor Company.

Vasil Mero and Theodhoro Cami are two shareholders of Euro News, an analog audiovisual subject.

Vasil Mero is a direct owner only in the media subject Inter Media Group and an indirect owner in 4 business companies:

Inter Media Group is engaged in the field of radio and television.
Euro Balkan News operates in the field of audiovisual media.
Inter Active Media also operates in the field of audiovisual media.
La Strada operates in the Multimedia sector.
Tok Media provides radio and television broadcasts, analog and digital.

Source: Open Corporates Albania
Comments and Analyses: Open Data Albania

Co-partner with Vasil Mero in Inter Media Group and any businesses under the company’s control is Theodhoro Çami. Another partner with Vasil Mero is Panajot Braja, owning 60% of the shares of Inter Active Media.

Among the subjects owned by Vasil Mero, the highest revenues for the year 2021 are reported by Inter Media Group, around 410 million lekë, followed by Euro News with an annual turnover of about 285 million lekë.

Source: Open Corporates Albania
Comments and Analyses: Open Data Albania

Theodhoro Çami is a direct owner in the subjects Albanian Distribution Company ADC and Inter Media Group; and an indirect owner in 4 business companies: Euro Balkan News, Inter Media Group, La Strada, Tok Media. Albanian Distribution Company ADC operates in the wholesale and retail trade sector.

Source: Open Corporates Albania
Comments and Analyses: Open Data Albania

Esat Bojku a citizen of the Republic of Kosovo, is the current shareholder of ABC News. Bojku is a direct owner of the subject “Media Holding” and an indirect owner of the subjects A.B.C. Management and ABC News.

“Media Holding” engages in activities in the media and software development field, as well as services related to intangible assets.
A.B.C Management offers services in the field of audiovisual media.
ABC News operates in the field of audiovisual media.

Esat Bojku owns 100% of the shares in all three of the above-mentioned subjects. The highest registered capital is with the television station ABC News, amounting to 70 million lekë. “Media Holding” is a new company established last October.

Source: Open Corporates Albania
Comments and Analyses: Open Data Albania

Irfan Hysenbelliu the owner of News 24 through the company Focus Media News, is a direct owner in 13 business companies and is indirectly listed as a proprietor in 8 others. Here, we are only discussing the owner Irfan Hysenbelliu without listing businesses in the name of his children.

Media businesses include the Focus Grup which owns Focus Media News the licensee for News 24. This company also owns Focus Press.

Two high-capital companies of Irfan Hysenbelliu are Erjoni shpk in the construction sector and Hysenbelliu. Other companies include:

Pegasos operates in the wholesale and retail trade sector.
Albecorp engages in trading various items.
Albkin is engaged in trading activities.
Alco-Systems specializes in providing information technology and telecommunications services.
Alpturist is involved in the construction of diverse structures.
Euro-Tirana Studio, serves as a design studio for civil construction, artworks, and more.
Hysenbelliu Group, provides consulting services, manufactures a range of alcoholic and non-alcoholic beverages, and participates in trading activities, among others.
Independent is dedicated to publishing the Independent newspaper.
W-Elektrik engages in import-export operations and offers services related to electrical and construction materials.
Fab-Group is active in trading and the production of various alcoholic and non-alcoholic beverages.

Indirekt, Irfan Hysenbelliu rezulton zotërues final indirekt edhe në 8 shoqëri biznesi:

“Alb-Ms-97” is involved in the production of educational materials.
General Cement Albania is engaged in the production and trade of cement, clinker, and mineral management. Here, Hysenbelliu holds only a 5% indirect ownership
Melita operates in the fields of transportation, trade, and construction of various structures.
South Coast Development is active in the construction and management of tourist villages.
Birra Tirana, where Hysenbelliu holds a 53.81% stake in the capital.
Fab Invest operates in the field of financial operations.
Focus Media
Focus Press

Source: Open Corporates Albania
Comments and Analyses: Open Data Albania

Fifteen out of the twenty-one business companies owned by Irfan Hysenbelliu are directly owned at 100% by him. In collaboration with Mr. Hysenbelliu in two business enterprises, Luan Bregasi holds a 50% stake in the company “Pegasos” and 9.86% in Birra Tirana. Ersi Ngjela, through the company “ALFAZED,” is also a partner with Irfan Hysenbelliu in two businesses: Birra Tirana (9.86%) and South Coast Development (15%). Additional partners with Irfan Hysenbelliu include Perlat Sala, who owns a 15% stake in South Coast Development; Adrian Doçi, holding 9.97% of the shares in Birra Tirana; Arben Selmani, with a 5.26% ownership in Birra Tirana; and so forth

Within the company Albkin, which has held passive status since 2004, Irfan Hysenbelliu is a partner with Chinese citizen Lin Jun (50%). Another foreign partner of Mr. Hysenbelliu is the Italian company “General Cement” S.p.a, which possesses 95% of the shares in General Cement Albania.

The financial institution Fab Invest is licensed as a “Non-bank financial entity.”

Source: Open Corporates Albania
Comments and Analyses: Open Data Albania

Based on official National Business Center data until June 2023, Irfan Hysenbelliu is listed as the owner of two business companies: Egnatia Group and Panorama Group. Notably, Egnatia Group also holds a 99% stake in Birra Korca, while Panorama Group serves as the parent company for Luarasi University (100%) and Panorama Tv (40%). Mr. Irfan has transferred ownership of all these entities to Fabiola Hysenbelliu and Fatmir Hysenbelliu through donation, as stipulated in contracts dated June 15 and June 19, 2023. Additionally, Fatmir Hysenbelliu owns a construction company called FI GROUP and is involved in the company Prestige MFC, which specializes in professional, scientific, and technical activities.

Bashkim Ulaj, Astrit Ulaj and Ahmet Ulaj own Television A2 News through their company Gener 2 Media. Bashkim Ulaj and Astrit Ulaj are direct shareholders of “Gener 2” shpk, as confirmed by official data, while Ahmet Ulaj is the direct owner of “Gener 2” and ABAU.

Gener 2 regarded as one of the nation’s prominent businesses, operates across various sectors, including construction, tourism, transportation, trade, telecommunications, electric power, wholesale fuel trade, real estate services, and administrative services. The company maintains ownership in 7 concessionary firms, a few of which are presently deregistered and inactive, with some involved in national road infrastructure. Similarly Gener 2 stands as a significant participant in Public Infrastructure projects.

ABAU is engaged in construction, tourism, transportation, trade, telecommunications, electric power, wholesale fuel trade, real estate services, and administrative services.

The list of business companies indirectly owned by the Ulaj brothers includes 11 enterprises:

2Smart Systems provides services in information and telecommunications, as well as real estate services.
Dragobia Energy operates in the construction and electric power sectors.
Fier Thermoelectric is involved in the electric power sector.
G2 Blu is focused on road construction.
G2 Media operates in the field of audiovisual media.
G2 Datacom specializes in the development of national data centers and telecommunications infrastructure within the construction sector.
G2 Infra is a PPP entity responsible for the construction of the “Thumanë–Fushë-Krujë–Vorë–Kashar” Road Axis“.
Gizavesh Energy Albania is active in the construction and electricity production sectors.
Greensol engages in trading, fishing, and renewable sources-based electricity production.
Tirana Datacom operates in the development of electronic data and information infrastructure.
Vivid Power is engaged in operations related to hydrocarbons and natural gas.

Source: Open Corporates Albania
Comments and Analyses: Open Data Albania

Foto Zbogo is recognized as a partner alongside the Ulaj brothers in two business enterprises, holding a 30% ownership stake in both companies that operate within the realm of electronic data and telecommunications. Other collaborators linked with the Ulaj brothers include Ledion Liço and Enis Bletaj, each possessing a 20% share in 2Smart Systems. Additionally, Bajram Dalipaj (via I.D.K – Konstruksion) and Olset Haxhiu (via Illyrian Consulting Engineers) hold 1% ownership stakes each in the concessionary firm G2 Blu.

The sole international partner aligned with the Ulaj brothers is the Greek company “GEK TERNA Holdings, Real Estate & Constructions Societe Anonyme,” securing a 70% stake in Fier Thermoelectric.

The Ulaj brothers have documented various contracts related to Public Infrastructure and Public-Private Partnership agreements.

Carlo Bollino is the proprietor of MTSC, the holder of the license for the television channel Report Tv, established in June 2015. MTSC also benefits from the “Shqipëria 1 Euro” program, with specific details outlined in the company’s records.

Source: Open Corporates Albania
Comments and Analyses: Open Data Albania

Samir Mane‘s presence on the list of individuals owning shares in a media company emerged only after March 2022, a period when his company Balfin achieved complete ownership of Scan Tv‘s shares.

Under the umbrella of the Balfin Group, Samir Mane holds ownership in 38 business enterprises, encompassing residential and tourism complexes, hotels, shopping centers, trading companies, and more. Mane also possesses shares in a company functioning as a higher education institution:

Mane TCI is actively involved in construction projects of diverse structures, offering consultancy services, and engaging in real estate activities.
Neptun operates within the wholesale and retail trade sector, in addition to providing transportation services.
Mane Development specializes in real estate and consultancy services.
Acrem centers its activities around professional, scientific, and technical fields, encompassing transportation services, wholesale and retail trade, etc.
Aircraft Maintenance engages in professional and technical activities, providing aircraft maintenance services.
Alba Distribution is involved in trading activities.
Albanian Energy Supplier operates in the field of electric power.
Alcred Food Processing Co engages in wholesale and retail trade of various products.
Balfin Real Estate & Hospitality is active in the realm of tangible assets and tourism.
Banka e Tiranës, a financial institution, is a Second Level Bank.
Bellevedere Korça operates in the construction of civil and/or industrial structures, wholesale and retail trade of construction materials, real estate services, transportation services, and more.
BFI Trade conducts trading activities.
Elektro-Servis specializes in wholesale and retail trade of various items and transportation services.
Elite Urban Development is active in the construction of various structures and production of diverse construction materials.
Fashion Group Albania is involved in wholesale and retail trade, as well as real estate services.
Go Green operates in the field of electric power, as well as trading various machinery and equipment.
Green Coast operates in tourism and construction, focusing on designing, building, and operating a tourist complex.
ITD sh.p.k operates in the trade of computer equipment, financial operations, professional and technical activities, real estate services, and more.
Kid Zone engages in wholesale and retail trade.
Marina Resdences Vlorë operates in construction and tourism.
Milsped Albania offers transportation services.
On Solutions provides consultancy services and professional, scientific, and technical activities.
Qendra Tregtare Univers (QTU) is involved in wholesale and retail trade and tangible asset activities.
Retail Park operates in the wholesale and retail trade sector, as well as transportation services.
Green Coast Hotel is active in accommodation and construction services.
Seaside Entertainment is engaged in accommodation, construction, and administration services.
Seaside Hospitality offers accommodation, construction, and administration services.
Seaside Hotel II provides accommodation, construction, and administration services.
Seaside Residence V offers accommodation, construction, and administration services. Rolling Hills By the Lake is active in tangible assets, construction of various structures, and consultancy services. Scan, a media subject, is engaged in audiovisual activities.
Spar Albania conducts trading and transportation activities.
Stella Mare, a maritime and forwarding agency, provides transportation services.
Tirana Business University, an educational institution, offers university and post-university studies.
Tirana East Gate (TEG) is involved in tangible assets and wholesale and retail trade of various products.
Tirana Logistic Park manages commercial centers, conducts wholesale and retail trade, and offers transportation services.
Valmar 2 operates in tangible assets, construction, transportation, trade, administrative and consultancy services, water pollution activities, and more.
Wind Stream operates in the field of electric power, through the construction of wind parks.

Source: Open Corporates Albania
Comments and Analyses: Open Data Albania

Out of the total of 38 business companies, 26 of them are fully owned by Samir Mane. Co-partner in three of the companies, Julian Mane, owns 10% of the shares in the trading companies Neptun, Elektro-Servis, and Kid Zone. Other partners with Samir Mane include Geron Çela (through Marina Di Valona), who owns 72% of Marina Residences Vlorë; Avni Ponari, who owns 49% of Albanian Energy Supplier; Tirana Business University holds 53.12% ownership of Artan Hoxha; the legal entity “G.J. Group” owns 50% of the shares in Bellevedere Korça; Geront and Bledar Çela (through the company “Brunes” shpk) are partners with Mr. Mane, owning 18% of Marina Residences Vlorë; Grigor and Marjeta Joti (through “Investment Joti – Infosoft Group”) own 39% of the shares in ITD sh.p.k; Vahid Ruli is a partner with Samir Mane, owning 3% of TEG (through “Financial Investment Service (“FIS”); and so on.

The foreign company “Milsped D.O.O,” co-partnered with Samir Mane in two business companies, owns 50% of the shares in Milsped Albania and Stella Mare. Other foreign companies, in which Mr. Mane shares partnership, include the Austrian company “Supernova Green Energy” GmbH, which owns 66.67% of the shares in Wind Stream, and the Albanian-American Enterprise Fund, which owns 8.91% of the ownership of TEG.

Balfin – Balkan Finance Investment Group reports about 36 billion lek in revenues generated during the year 2021. In second place is Spar Albania with 7.9 billion lek in revenues, followed by Neptun with an annual turnover of around 7.7 billion lek for 2021. The list continues with Albanian Energy Supplier at 4.9 billion lek, Green Coast at 4.8 billion lek, ITD sh.p.k at 3.3 billion lek, Banka e Tiranës at 3.2 billion lek, Mane TCI at 3 billion lek, and so on.

In a ranking based on accounting profit, the Balfin Group once again tops the list, with a gross profit of around 2.4 billion lek for the year 2021. In second place, Banka e Tiranës rises, achieving a profit of 1.1 billion lek..

Table: Income, Gross Profit and Profit Margin, Economic Entities Owned by Samir Mane
Source: Open Corporates Albania
Comments and Analyses: Open Data Albania

Source: Open Corporates Albania
Comments and Analyses: Open Data Albania

Unlike other media companies, Televizioni Syri does not have an identified individual businessman as an owner. This is because the company is ultimately owned by a Non-Profit Organization, with Clirim Peka as the executive director. In May 2019, the entity was acquired by the non-profit organization “Qendra për Informim të Hapur” (Center for Open Information), with Çlirim Peka as the executive director.

Source: Open Corporates Albania
Comments and Analyses: Open Data Albania

Continuing with the list, Fax News television is positioned, which is owned by Ardian Dushaj 10%, Kevin Hysenbelli 30%, Donika Hysenbelli 30%, and Enkeleda Hysenbelli 30%, the last three being descendants of Mr. Kasem Hysenbelli.

Ardian Dushaj, based on official data, is a direct owner in three economic entities:

Ashel Group engages in trading and transportation.
Sokorso Malsia provides transportation and electric power services, etc.
Fax Media News operates in the field of audiovisual media.

Source: Open Corporates Albania
Comments and Analyses: Open Data Albania

The members of the Hysenbelli family, legal heirs of Mr. Kasem Hysenbelli, are owners only in the entities Kedo Group (direct ownership) and Fax Media News (indirect ownership).

Kedo Group, engaged in electronic and print media activities.
Fax Media News operates in the field of audiovisual media.

Source: Open Corporates Albania
Comments and Analyses: Open Data Albania

Televizioni Ora is under the ownership of the Ndroqi family. Ylli Ndroqi, the majority owner of Ora Tv, also concurrently holds a 30% ownership stake in Ora News in partnership with Astrit Sejdini.

According to official records, Ylli Ndroqi is a direct owner of 8 business entities, four of which are currently inactive:

DON – UCD is involved in wholesale and retail trade, as well as operations in electric power and real estate.
LANDON operates within the construction sector.
ORA is engaged in private local radio and television activities.
PS 31 operates in the field of trad.
REN-DON is involved in various types of construction, wholesale and retail trade, tourism, and the production of building materials.
YLDON engages in trade, financial operations, and construction activities.
Yldon Media Group offers audio and video services
Ora News is a media entity transmitting various programs and information through voice, figures, signals, and more.

Ylli Ndroqi is listed as an indirect owner in four business companies.

Ecogades Landon Balcan is active in waste treatment, oil import-export, construction of various structures, as well as professional, scientific, and technical activities.
Albania Bay Marina operates in construction, real estate, and accommodation services.
Interkinex is engaged in trade, consultancy services, telecommunications, and transportation.
Psicomedical Certificates is involved in certifying medical qualifications for vehicle drivers

Source: Open Corporates Albania
Comments and Analyses: Open Data Albania

Among the twelve companies owned by Ylli Ndroqi, four are solely owned by him. In the case of Interkinex, Mr. Ndroqi is a partner with the Albanian State, holding 20% of Interkinex shares (represented by the Ministry of Finance and Economy). Other Albanian partners affiliated with Ylli Ndroqi include Astrit Sejdini, who possesses 70% of Ora News shares; Mimoza Ndroqi, with 40% ownership of Ora television; Laert Duro, with 40% ownership of Landon; and jointly sharing 50% of Ps 31 shares is Endri Dervishi.

Additionally, Ylli Ndroqi is a partner with a branch of a foreign company registered in the Republic of Seychelles, Africa, known as “I.S.D.C-Dega ne Shqipëri,” which owns 30% of the Concessionary Company Albania Bay Marina, a suspended concessionary company. Other foreign partners with Ylli Ndroqi include the Bulgarian company Quentin Ltd, holding 20% of the shares in Albania Bay Marina; the Spanish company “Ecogades” SL, owning 20% of the shares in Ecogades Landon Balcan; and the Spanish company “Certification Internacional De Reconocimientos Medicos SL, (CIRMSL),” which holds 60% of the shares in Psicomedical Certificates.

Currently, Mr. Ylli Ndroqi’s assets and shares are seized by the Decision of the Special Court for corruption and organized crime.

Source: Open Corporates Albania
Comments and Analyses: Open Data Albania

Mimoza Ndroqi owns two business entities: YMR and ORA.

YMR is involved in the trade of medicines and pharmaceuticals, and is currently suspended.
ORA functions as a private local radio and television entity.

YMR is entirely owned by Mimoza Ndroqi, while ORA is 60% owned by Ylli Ndroqi and 40% owned by Mimoza Ndroqi.

Source: Open Corporates Albania
Comments and Analyses: Open Data Albania

Astrit Sejdini is the proprietor of two business entities: Investment Consultancy Albania and Ora News.

Investment Consultancy Albania operates in the domain of legal, financial, and banking consultancy services for third parties.
Ora News functions as a media entity, transmitting diverse programs and information through voice, visuals, signals, and more.

Source: Open Corporates Albania
Comments and Analyses: Open Data Albania

Endri Meksi is also the proprietor of Media TV through the ownership of MCN Television. According to official records, Endri Meksi directly owns shares in 10 business entities:

Urban Energy Albania” is engaged in waste treatment, trade, transportation, and administrative services.
528Hz operating in the production of audio and video materials, dubbing, and trade of digital devices.
Codeland providing services in software system development and maintenance, communication systems of information networks, etc.
epay.al is engaged in financial activities.
interweb.al specializing in the preparation and maintenance of websites and telecommunication services.
Konnect offers intermediation and advisory services.
MC Networking is involved in the trade of computer devices/accessories, internet services and programming, construction of various structures, and installation/management of fiscal devices, etc.
MCN Services provides telecommunication services.
Medium PR & ADS actively operaties in the IT field, promotional activities, and consultancy services.
MGR is engaged in financial management and investments in third-party companies.

The list of entities indirectly owned by Endri Meksi includes three subjects: FTG, Johaniteri, and Moligix.

FTG is involved in the import and installation of fiscal devices.
Johaniteri ia a media enterprise specializing in audiovisual services.
Moligix operates in the gambling industry.

Source: Open Corporates Albania
Comments and Analyses: Open Data Albania

In six business companies, Endri Meksi is the sole partner. According to official data from the Albanian National Business Registry (QKB), Klajdi Oshafi and Marsel Tufa are co-partners with Endri Meksi in two business companies, Interweb.al and FTG; Elvis Hilla and Gertian Deçolli each own 22.5% of the shares in 528Hz; Eno Çuka owns 50% of the company Codeland; Rrok Gjoka (through Gjoka Konstruksion) and Hamide Selimi (through MiscoM) each own 33.33% of the shares in FTG.

Foreign nationals who are partners with Meksi include Macedonian citizen Abdulah Tajari, owning 60% of Urban Energy Albania; Italian citizen Vincenzo Abbinante, owning 20% of Urban Energy Albania; Italian Antonio Mirizzi, owning 33.33% of Konnect shares; and Italian citizen Jean Paul Max Maconi owning 30% of MCN Services and 33.33% of Konnect.

The concessionaire company Moligix has secured the concession contract for building, developing, operating, and maintaining the “Central Online Monitoring System (SQMO) for the Gambling Industry in the Republic of Albania,” with an estimated investment value of around 51.8 million euros. MC Networking has a record of several contracts with public authorities, including the Albanian Road Authority, Local Governance, and others. In the year 2022, it ranks among the top 10 largest recipients of public funding through the tendering process.

Source: Open Corporates Albania
Comments and Analyses: Open Data Albania

Media enterprises and other significant sectors are organized systematically within our Open Corporates Albania

To ensure comprehensive and well-structured passport creation, we draw from information resources including public business registries, the concessions registry, AIDA (Albanian Investment Development Agency) publications, Treasury Transactions system data, and the Open Procurement Albania database.

Download excel: Media Owners, Economic Power through Businesses and Capital, Audiovisual Media June 2023
Comments and Analyses: Open Data Albania
Contributed by: Pajtim Nikolli
Translated by: Etleva Pushi

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