MTG Merges Bulgarian Assets

STOCKHOLM: After receiving the go-ahead from the Bulgarian Commission for the Protection of Competition, the Modern Times Group (MTG) has reorganized its broadcasting assets in the market, grouping them under Nova Televizia.

In March, MTG signed a deal with Apace Media to transfer all of the assets from the jointly owned Balkan Media Group Limited (BMGL) into MTG subsidiary Nova Televizia. MTG now owns 95 percent of the enlarged Nova Televizia group—it previously owned 50 percent of BMGL and 100 percent of Nova Televizia. The merged group now includes the Nova TV, Diema, Diema Family, Diema 2 and MM channels.