RTL targets Bulgaria

RTL Group is understood to be preparing to buy the Bulgarian national commercial station bTV from News Corp.

Reports in both the German and Bulgarian press say the Bertelsmann-backed company is ready to meet News Corp’s valuation of €1.1 billion for bTV, which is the market leader in the Balkan country.

News Corp has decided to dispose of all its TV operations in CEE, and bTV, as the most profitable, is expected to be the first to be sold.

Bulgaria has recently become a ‘hot’ market for leading foreign investors, with both CME and MTG having acquired national commercial stations in late July. RTL Group already has a presence in Hungary, Croatia and Russia.