TV 7

TV 7 is a Montenegrin TV station with a regional frequency that was founded by Montenegro Lottery. According to the Central Register of Business Entities (CRPS), all available online reports state that the CEO is Nebojša Božović, no additional information was found about his professional background. Initially the main goal of Television TV 7 was the popularisation and promotion of games of chance organised by Lutrija Crne Gore AD, with the desire to affirm and present them to a wide audience, in an interactive and interesting way.

TV7 is owned by a controversial Montenegrin businessman Sava Grbović, who is affiliated with Branislav Mićunović. In November 2023, Mićunović was blacklisted by the US Department of State, for being a leading figure in organised crime for decades.

Key facts

Audience Share

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Ownership Type


Geographic Coverage


Content Type

Free content

Data Publicly Available

ownership data is easily available from other sources, e. g. public registries etc.

2 ♥

Media Companies / Groups

Lutrija Crne Gore


Ownership Structure

TV 7 is operated by Lutrija Crne Gore AD. Lutrija Crne Gore AD has two major shareholders: Sava Grbović with 43.19% and Flesh & As with 50.99%, while the remaining 5.82% are owned by a variety of other natural and legal persons. Sava Grbović is the ultimate beneficial owner of Flesh & AS d.o.o., hence he controls 94.18% of shares in TV 7.

Voting Rights

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Individual Owner

Media Companies / Groups

General Information

Founding Year


Affiliated Interests Founder

Lutrija Crne Gore AD

Founded in 1960. In 1997, it was transformed from a public company into a joint stock company. The ownership share of 46% of the capital was sold by the state in a stock exchange transaction in 2005. The main activity of the Lottery of Montenegro company is the organization of games of chance, and it is one of the founders and members of the Association of Lottery Organizations of Southeast Europe.

Affiliated Interests Ceo

Boris Delić

The acting executive director. Some documents state that he is the secretary. It was not possible to find any additional information about his professional background.

Affiliated Interests Editor-In-Chief

Milutin Stijepović

Was a director of Radio Television Nikšić, ran for director of the RTCG and recently became the editor-in-chief of TV 7. He has a degree in law. From 1997 to 2014, he worked as a journalist and editor at the Radio Television of Montenegro.


Rimski trg br 50, Podgorica


Phone number: +382 67 238 119


Financial Information

Revenue (in Mill. $)

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Operating Profit (in Mill. $)

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Advertising (in % of total funding)

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Market Share

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Further Information

Meta Data

The data on the media outlet was collected from the Central Registry of business entities of Montenegro, Agency for electronic media, Central clearing depository agency,Tax administration portal Taxis, website of the media and desk research. Audience shares are missing, since there is no credible centralized audience measuring mechanism in the country.
MOM team in Montenegro contacted the media outlet on August 18, 2023, as is the practice for Media Ownership Monitor, to invite the media owners to proactively disclose information relevant to the study.
The annual average exchange rate of the Central Bank for 2022 was used to convert EUR into USD (1,05).
It is confusing that there are different names for positions in documents and media in the same company. Financial statements are not precisely defined.