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Radosvet Radev (L), owner of Darik Radio, and Didier Stoessel (R), CEO and Vice Chairman of Nova Broadcasting Group. File photo
Nova Broadcasting Group, part of the international broadcasting group MTG, announced it has signed an agreement to acquire 70% of the merged assets of Darik News and Net Info in Bulgaria from Darik Radio, the Bulgarian commercial radio.
The price of the deal was not disclosed.
MTG has the option to acquire the remaining 30% of the company from Darik Radio within a five year period.
Darik News operates news site dariknews.bg; sports news site gong.bg; and weather site vremeto.bg.
Net Info operates the email platform abv.bg with approximately 3.5 million users; video clip site vbox7.com; sports news site sportni.bg; weather site sinoptik.bg; and entertainment news site edna.bg.
The transaction is subject to regulatory approval.
The acquisition complements MTG’s current Bulgarian operations, which consist of five linear TV channels, the Nova Play advertising funded video on demand website and the Nova News and Nova Sports news sites.
“With this step, part of our strategy to constantly innovate our service offering, we will now have excellent opportunities and reach in terms of advertising in digital media to offer our customers. I am looking forward to working with Darik on those exciting projects,“ Didier Stoessel, CEO and Vice Chairman of Nova Broadcasting Group said.
Nova Broadcasting Group is part of Modern Times Group (MTG), which is an international entertainment broadcasting group with operations that span four continents and include free-TV, pay-TV, radio and content production businesses.
In Bulgaria MTG operates five free TV channels - Nova, Diema, KinoNova, Diema Family, Nova Sport; four pay-TV channels - TV1000, Viasat History, Viasat Explorer and Viasat Nature; and Eva Magazine.
Nova is the second biggest terrestrial TV channel in Bulgaria and is the pioneer in the broadcasting of world-famous TV shows and reality formats in the country.
Diema, KinoNova, Diema Family and Nova Sport are broadcasted through cable and satellite networks covering over 70% of the households in Bulgaria. The channels broadcast hit series, premium sports events and movies.
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