The association said in a statement on Thursday that it suspected that the authorities had political motives to see to it that Radio 101 cease operating.
The HND said the council's decision might mean that the radio would have to be shut down and that 23 reporters would be brought into an uncertain position.
Council chair Zdenko Ljevak proposed yesterday that the procedure of transferring the broadcasting licence, which would enable the bankrupt radio station to continue broadcasting under a new owner, be stopped "for well-known reasons."
Since Radio 101 requested the transfer of the operating licence, a new law on electronic media has gone into force, banning the transfer of radio and television broadcasting licences "onto another person" as a way of preventing the covering up of the media ownership structure.
Ljevak recalled that the Council received Radio 101's request for the transfer of the operating licence on July 12, and the new law took effect 16 days later.
Zeljko Matic, editor-in-chief of Radio 101 who attended the Council session, told reporters the Council's decision meant the end of the cult radio station despite all efforts to preserve it.
Official receiver Maroje Stjepovic said earlier this month that after the Electronic Media Council decided on the request for the transfer of the operating licence, he would call a meeting of the radio station's creditors to decide on its fate.