Sweden’s Modern Times Group (MTG) has signed an agreement with Apace Media plc to transfer the assets of Balkan Media Group Limited (BMGL) into its local subsidiary Nova Televisia Bulgaria, which owns Bulgaria’s second largest TV channel Nova, cable TV channel Nova+,  and 80% of the women’s magazine Eva. MTG controls fully Nova Televisia and owns half of BMGL, which runs the family of Diema cable TV channels. MTG and Apace will own 95% and 5% of Nova Televisia after the concentration, respectively. The deal should be approved by the local antitrust regulator. MTG paid EUR 620mn to the Greek Antenna Group for the assets of Nova Televisia last year. Nova TV is broadcast under a national terrestrial free-TV licence, as well as on cable and satellite networks and covers 99% of the population in the country. MTG is the largest free-TV and satellite premium pay-TV operator in the Scandinavian and the Baltic countries, and also operates channels in the Czech Republic , Hungary , Slovenia , and the Balkans. Its products are offered to more than 100mn people in 24 countries.