Alegro swoops in quickly for Bulgarian TV stations

Editor | 23-11-2012

Alegro Capital, an international investment banking firm focused on the telecoms, media and technology (TMT) sector, has purchased two Bulgarian TV broadcasters - TV Sedem (TV7) and Balkan Bulgarian Television.

The core businesses of TV7 and Balkan Bulgarian Television, formerly part of Chiquitena Holdings, include: the production and broadcasting of television programmes transmitted by terrestrial, satellite and cable; video and audio production and recording; and advertising and publishing.

TV7 offers a 24-hour general entertainment TV programme, targeting a wide TV audience aged 18-49+ and SUPER 7, a 24-hour specialised children-focused programme. BBT’s portfolio includes a 24-hour general entertainment TV programme, targeting the family audience and containing information and entertainment programmes.

The full financial terms of the transaction have yet to be disclosed but it is known that the deal was undertaken through Alegro’s Cypriot investment vehicle, Haggarly Investments.

Commenting on why the company made the deal, Patrick Martin, partner and head of media at Alegro, said: “The acquisition of TV7 and Balkan Bulgarian Television represents a bold but cautiously deliberate step for us. Alegro has established a strong track record of advising media companies and this transaction showcases our ability to leverage our strong media sector expertise to participate in high potential transactions.

"Alegro will work with management to introduce new approaches to strengthen the companies and to energize their approaches to their markets. As part of this initiative we have invited a couple of North American and Western Europe broadcasting experts to join our advisory team to enhance current experience and know-how in the television and media industries.”