MTG completes Nova sale
April 10, 2019 10.43 Europe/London By Chris Dziadul
Modern Times Group (MTG) has completed the sale of its 95% stake in the Bulgarian broadcaster Nova to Advance Media Group.
The all-cash transaction valued 100% of Nova at €185 million and the proceeds will be used by MTG to further develop its global digital entertainment verticals through organic investments and acquisitions.