United Group announces deal to buy Bulgaria’s Nova Broadcasting Group

Written by on December 25, 2020 in Bulgaria - Comments Off on United Group announces deal to buy Bulgaria’s Nova Broadcasting Group

Dutch-registered telecoms and media company United Group has announced it has reached an agreement to acquire Bulgaria’s largest multi-platform media company Nova Broadcasting Group from Advance Media Group.

The transaction, announced on December 24, is expected to close early in 2021 and is subject to customary regulatory approvals.

The financial details of the deal were not disclosed.

Nova comprises of 10 TV channels including national Nova TV, the country’s largest online platform Net Info that reach on average 80 per cent of the Bulgarian population every month as well as four radio stations.

The statement quoted United Group CEO Victoriya Boklag as saying: “We’re very pleased with this agreement. We are buying a successful company from two prominent entrepreneurs with great prospects for further growth within United Group. The acquisition is in line with the overall strategy of United Group to own both telecom and media assets in the markets we serve.”

“Nova Broadcasting Group complements our existing media assets and I’m confident we’ll find many synergies between them, which gives us scale on each market to further invest in local content and quickly reach audiences,” Boklag said.

The investment marks the fourth large-scale transaction since BC Partners acquired United Group in March 2019, the statement said.

As The Sofia Globe reported at the time, United Group announced on July 31 2020 that it had closed a deal to buy Vivacom, one of Bulgaria’s three major telecom operators.

The Sofia Globe is an independent media outlet, free of ties to any corporate, political or other media groups. For as little as three euro a month or the equivalent in other currencies, you can support The Sofia Globe via patreon.com and get access to exclusive subscriber-only content. Please click on the button below:

Become a Patron!

About the Author

The Sofia Globe - the Sofia-based fully independent English-language news and features website, covering Bulgaria, the Balkans and the EU. Sign up to subscribe to sofiaglobe.com's daily bulletin through the form on our homepage. https://www.patreon.com/user?u=32709292