{"code":"TC-38","label":"State-Directed Media Ownership Capture","category":"Structural / Ownership","definition":"State or state-aligned capital acquires or restructures ownership of independent media outlets to achieve editorial capture, using nominally corporate vehicles — state-owned enterprises, state-connected investment funds, regime-aligned oligarchs — to obscure the state's role as beneficial controller. The capture operates through ownership and board control rather than direct censorship or legal prohibition, producing self-censorship and editorial alignment without visible state interference. Distinct from TC-41 (Media Distribution Exclusion), which targets audience access infrastructure; TC-38 targets ownership and editorial independence at the source. Documented via state-owned enterprise acquisition (Telekom Serbia/Kurir) and state-adjacent investment fund acquisition (Alpac Capital/N1-ANN, connected to Hungarian state capital).","needs_review":false,"instrument_type":"Structural","detection_signal":"State-owned enterprise or state-connected fund acquiring stake in independent media; ownership restructuring timed to electoral or legislative cycles; editorial leadership changes following ownership transfer; new owner with documented regime connections; coverage shifts toward pro-government framing post-acquisition; use of offshore or investment fund structures to obscure state beneficial ownership."}