Out of 30 companies owning media, that are in focus of this analysis, three are registered as public broadcasters - one state and two entity televisions; two as joint stock companies (Glas Srpske and Open Broadcast Network) while others are registered as limited liability companies.
Most are registered in Bosnia and Herzegovina (83 percent) while the remaining 17 percent are registered in Serbia, Austria, Turkey and the Netherlands. For 80 percent of those data on ownership is publicly available and 16.6 companies are actively transparent. We recorded one case where effort has been made to hide ownership data. For joint stock companies data on shareholders and their percentage ownership is available on Banja Luka and Sarajevo stock exchanges websites, while for others these can be found within the entities financial agencies that keep track of the financial reports. Largest number of companies that own media in Bosnia and Herzegovina are not focused just on media business making it hard to analyze data on profits for only their media operations.