The WAZ Media Group on May 17 rejected accusations by certain media editors that it was attempting to take over the entire press market in Serbia, WAZ announced on May 17.

According to the press release, WAZ representative in Serbia Peter Lange said allegations against the company were completely fabricated and that it would not be in the interest of WAZ for the Futura Plus newspaper distributor to go bankrupt.

Lange, also the chairman of the Assembly of Stampa Sistem, said WAZ itself was observing the threats to a large number of jobs and families with concern, and would gladly make its contribution to avert the imminent bankruptcy of Futura Plus. However, he went on, WAZ has no opportunity to act, as the Futura Plus bankruptcy manager has excluded WAZ from the bankruptcy proceedings with no explanation as a creditor.

The editors in chief of the Vecernje Novosti, Blic and Pres daily said on May 16 that Stanko Subotic "Cane" and the German WAZ were trying to take over the entire Serbian press market.

"The companies Novosti, Ringier and the Press Publishing Group warn the government of Serbia and the Serbian public that an attempt to take over the entire press market was underway by 'wanted poster face' Stanko Subotic 'Cane' and the German corporation WAZ," read a press release signed by the editors in chief of Novosti, Blic and Pres, Manojlo Vukotic, Veselin Simonovic and Dragan J. Vucicevic.

At the same time, Subotic rejected any allegations of such a takeover with WAZ, stating that he had had no dealings with the German firm since 2008.

In a written statement to the media, Subotic said he had only financial obligations to WAZ because of guarantees he issued in 2006, as the owner of the Futura Plus company, on behalf of businessmen Milan Beko and Miroslav Miskovic in the privatization of Vecernje Novosti.

He said the claims leveled by the editors of Vecernje Novosti, Blic and Pres that he and WAZ were attempting to gain control over the newspaper market were prompted by the fact that Beko and Miskovic have to give Novosti shares to "the real owner" or repay money with interest and lost gains.

"Since the two of them bought Novosti with WAZ's money, and kept the shares for themselves and for four years have not given them to the owners, WAZ has activated my guarantee and I currently have incurred damage worth millions because of that," Subotic's statement read.