MTG completes Bulgarian consolidation

By Chris Dziadul

August 6, 2009 08.06 UK

Modern Times Group (MTG) has completed the reorganisation of its Bulgarian assets, merging them all into Nova Televizia following the receipt of approval from the country’s Commission for the Protection of Competition.

The move follows an agreement signed with Apace Media this March to transfer all the assets within the jointly owned Balkan Media Group into Nova Televizja.

MTG now owns 95% of the enlarged Nova Televizia group, which besides the station Nova TV also includes the Diema group and MM channels.