One of the leading European broadcaster MTG (Modern Times Group) has formed a strategic partnership with UK ’s Apace Media for setting up a joint venture company Balkan Media Group Limited (BMGL) aimed at taking over a leading position on the Balkan media market. Sweden ’s MTG will pay Apace Media an initial consideration of EUR 8.6mn for 50% of the business. According to the press release of Apace Media, it will transfer 5 stakes into BMGL before completing the deal: Diema Vision AD Cable & satellite broadcasting Bulgaria (66%); Television MM Cable & satellite broadcasting Bulgaria (66%); Apace Internet Balkans Internet Bulgaria (100%); Apace Media Bulgaria Central (100%); and TV ERA Terrestrial broadcasting Macedonia (66%).
Source: Intellinews - Bulgaria Today