World’s leading media group News Corporation will reportedly change the consultant for the planned sale of local media assets managed by Balkan News Corporation, according to information of business wire Dow Jones. The bankrupt investment bank Lehman Brothers acted as adviser to the deal by now. 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 . Negotiations are held with several foreign entities, including strategic investors and private equity funds. News Corporation expects to cash at least EUR 1bn from the planned sale.
Source: Intellinews-Bulgaria Today