MTG consolidates in Bulgaria

March 3, 2009 | 07:39 UK

Sweden’s Modern Times Group (MTG) is to merge its interests in Bulgaria into a single entity.

According to the company, it has signed an agreement with Apace Media whereby the assets within the Balkan Media Group Ltd (BMGL) that they jointly own will be transferred into MTG’s subsidiary Nova Televizia, the operator of the national commercial station Nova TV.

MTG will own 95% of the enlarged Nova Televizia group and Apace a 5% stake.

The assets being transferred include the Diema and MM thematic channel, along with the Albanian language Macedonian channel Era TV.