World’s leading media group News Corporation has selected the financial group JPMorgan Chase to replace the bankrupt investment bank Lehman Brothers as an adviser on the sale of local media assets managed by Balkan News Corporation. The local portfolio of News Corporation includes Bulgaria ’s largest TV broadcaster bTV and several smaller TV channels in Bulgaria and neighbouring Serbia and Turkey . News Corporation expects to cash at least EUR 1bn from the planned sale.

Meanwhile, the Swedish media company Modern Times Group (MTG) has asked the state antitrust commission to allow the acquisition of Nova Televisia Bulgaria , owner of the country’s second largest TV channel Nova, the newly launched TV channel Nova Televisia Plus, and Eva Magazine. The price is set at EUR 620mn. All interested parties are expected to present their views on the deal by Oct 2. Nova TV covered 18.2% the viewers’ age group between 18 to 49 years in H1. MTG indirectly controls the family of Diema channels in the country, which had a 10% total share of viewers in H1.