Both as a member of parliament and as editor of "Gazeta Wyborcza" he actively supported Prime Minister Tadeusz Mazowiecki's government and his candidature in the 1990 presidential election campaign against Lech Wałęsa. After the breakup of the Citizens' Committee and Mazowiecki's failure, Michnik withdrew from his direct involvement in politics and did not run for a seat in the 1991 parliamentary election, instead focusing on editorial and journalistic activities. Under his leadership, "Gazeta Wyborcza" was converted into an influential left-wing daily newspaper in Poland. Based on "Gazeta Wyborcza" assets, the Agora SA partnership came into existence. By May 2004, it was one of the biggest media concerns in Poland, administrating 11 monthly titles, the portal gazeta.pl, the outdoor advertising company AMS, and has shares in several radio stations. Adam Michnik does not have any shares in Agora and does not hold any office, other than chief editor, which is unusual in business in Poland. Michnik's shares are kept by Agora.