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Sale of Bulgaria TV Channel Nova Televizia Becomes Final
Business | October 16, 2008, Thursday // 00:00
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"Modern Times Group" (MTG), the second largest media group in Europe, announced Thursday that they have received all necessary approvals from Bulgarian authorities to close the deal for the purchase of 100% of the TV channel "Nova Televizia."
MTG takes over the channel effective Thursday with full control of the entire business of "Nova Televizia."
One July 31, 2008, MTG announced that they have signed a contract to acquire 100% of the shares of the TV channel for a price EUR 620 M in cash from "Antenna Bulgaria."
"Nova Televizia" has been established in 1994 and owns 100% of the TV channel "Nova Televizia," 100% of the cable TV channel "Nova+" and 80% of the woman's magazine "Eva."
According to data, "Nova Televizia" is the second most watched TV channel in Bulgaria. MTG already manages the cable "Diema" channels in the country through their control package of 50 % in Balkan Media Group Limited.
MTG takes over the channel effective Thursday with full control of the entire business of "Nova Televizia."
One July 31, 2008, MTG announced that they have signed a contract to acquire 100% of the shares of the TV channel for a price EUR 620 M in cash from "Antenna Bulgaria."
"Nova Televizia" has been established in 1994 and owns 100% of the TV channel "Nova Televizia," 100% of the cable TV channel "Nova+" and 80% of the woman's magazine "Eva."
According to data, "Nova Televizia" is the second most watched TV channel in Bulgaria. MTG already manages the cable "Diema" channels in the country through their control package of 50 % in Balkan Media Group Limited.
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