On February 25, the owner and CEO of “Vyriy Industry” Oleksiy Babenko bought out 75% of Babel from the Slovak company IG. 25% remained with the editor-in-chief and founde, Kateryna Kobernyk. Babenko joined the company as an individual.
“The war forced Ukrainians to take up arms to survive and protect their external borders. But what we build the country on internally is no less important. Strong and independent media is one of the foundations of a strong and independent state in which I want to live. Buying a stake in Babel is just the beginning. Together with the publication’s team, we will be able to change the landscape of Ukrainian media,” comments Oleksiy Babenko.
DOU
After the agreement, Kateryna Kobernyk will remain as editor-in-chief. No changes are planned in the current team.
“We are pleased to welcome a new partner who shares our values and editorial standards and will help develop new Babel projects. However, the change of shareholders does not change our strategy — to increase financial independence, diversify income, and produce even more high-quality content,” says Kateryna Kobernyk.
Since September 2022, Babel has not raised funds from shareholders. The publication operates thanks to grants from international donors, advertising, and donations from the audience. Since the end of last year, the editorial team has been developing a community that supports the publication and individual projects.
For more news and in-depth stories from Ukraine, please follow us on X.