By Reuters Staff
2 Min Read
SOFIA, Dec 25 (Reuters) - Balkan telecoms and media company United Group, owned by private equity firm BC Partners, said late on Thursday it agreed to acquire Bulgaria’s largest multi-platform media company Nova Broadcasting Group from Advance Media Group.
United Group, which acquired Bulgaria’s leading telecoms operator Vivacom earlier this year, did not disclose a price for Nova, which owns 10 TV channels, including national NOVA TV, and the country’s largest online platform, Net Info.
Local media estimated the deal at about 300 million euros ($365.43 million).
“The transaction is expected to close early next year and is subject to customary regulatory approvals,” United Group said in a statement.
United Group unit gets antitrust nod to acquire Bulgaria s Nova Broadcasting Group Author: espensorvik. License: Creative Commons, Attribution 2.0 Generic.
SOFIA (Bulgaria), January 18 (SeeNews) - Bulgaria s antitrust body said on Monday that it gave the green light to United Media, part of Dutch-based telecommunications and media company United Group, to acquire 100% of Bulgarian multi-platform media company Nova Broadcasting Group from Sofia-based Advance Media Group.
The Commission for Protection of Competition (CPC) allowed Luxembourg-based United Media to buy Nova Broadcasting Group and its subsidiaries Net Info, Daric News, Vbox, Elit Media Bulgaria, Radio Veselina, Radio Express, Vitosha FM, Agencia Vitosha and Agencia Atlantik as well as to exercise joint control of Financial Marketplace, Grabo Media and Attica Eva, the competition authority said in its decision.
United Group
announced the agreement to buy Nova Broadcasting last month, without disclosing financial terms, but Bulgarian media reports put the value of the deal at about 300 million euro.
Nova comprises of 10 TV channels including national Nova TV, the country’s largest online platform Net Info that reaches on average 80 per cent of the Bulgarian population every month as well as four radio stations.
United Group, owned by London-based private equity firm BC Partners, currently offers pay TV, internet and telecommunications services in Bulgaria, Greece and the six former Yugoslav republics. It
closed the deal to buy Vivacom, one of Bulgaria’s three major telecom operators, in July 2020.
United Group expects to close purchase of Bulgaria s Nova Broadcasting in early 2021 Author: espensorvik. License: Creative Commons, Attribution 2.0 Generic.
SOFIA (Bulgaria), December 29 (SeeNews) - Dutch-based telecommunications and media company United Group said that its acquisition of Bulgarian multi-platform media company Nova Broadcasting Group is expected to close early next year.
United Group reached an agreement to acquire Nova from Bulgaria s Advance Media Group after the transaction receives all the necessary regulatory approvals, the Amsterdam-headquartered group announced in a statement last week.
The value of the deal was not disclosed.
The acquisition is in line with the overall strategy of United Group to own both telecom and media assets in the markets it serves, Victoriya Boklag, CEO of United Group, said in the statement.
By Reuters Staff
2 Min Read
SOFIA, Dec 25 (Reuters) - Balkan telecoms and media company United Group, owned by private equity firm BC Partners, said late on Thursday it agreed to acquire Bulgaria’s largest multi-platform media company Nova Broadcasting Group from Advance Media Group.
United Group, which acquired Bulgaria’s leading telecoms operator Vivacom earlier this year, did not disclose a price for Nova, which owns 10 TV channels, including national NOVA TV, and the country’s largest online platform, Net Info.
Local media estimated the deal at about 300 million euros ($365.43 million).
“The transaction is expected to close early next year and is subject to customary regulatory approvals,” United Group said in a statement.