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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

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