MTG acquires leading Bulgarian online business
Tuesday, 06 August 2013
Modern Times Group or MTG AB (publ.) (‘MTG’ or ‘the Group’), the
international entertainment broadcasting group, today announced that it
has signed an agreement to acquire 70percent of the merged assets of
Darik News and Net Info (‘the Operations”) in Bulgaria from Darik
Radio, the Bulgarian commercial radio operator, for an undisclosed cash
consideration on a cash and debt free basis.
The combined Operations have a broad range of services across 33
advertising funded sites, and comprise the market leading digital
conglomerate in Bulgaria in terms of monthly online reach. MTG has the
option to acquire the remaining 30percent of the Company from Darik
Radio within a five-year period.
from Press release