Is ReOpen Media's closure politically motivated?

Reports about the shutdown of Regional Open Media (ReOpen Media) have intensified in recent days, despite the outlet having shown increased activity since late May. Earlier rumors of internal disagreements gained traction after one of the founders, Gayane Manukyan, announced her departure two months ago.

Anyone familiar with ReOpen Media or the National Network Foundation have long claimed that the projects are financed largely by Vazgen Gevorgyan, the owner of Evocabank.

In light of this, Panorama.am reached out to Evocabank to seek clarification regarding the reasons behind the media company’s closure.

“Evocabank has no connection with ReOpen Media and therefore cannot comment on any related questions. Any inquiries regarding ReOpen Media should be submitted to its relevant department,” the bank responded.

Evidently, the bank is sidestepping the issue, as our questions concern the principal beneficiary himself. The shutdown of ReOpen Media appears to be a done deal and Vazgen Gevorgyan, widely described as an experienced, marketing-savvy, multi-profile entrepreneur with business activity in European countries, including Switzerland, would be unlikely to abandon a media project without serious reasons.

Moreover, according to information obtained by Panorama.am, the decision to close ReOpen Media is politically motivated. Additional details are expected to emerge soon.

The full report in Armenian is available here.