News Corp to exit Serbia

Greece’s Antenna Group has agreed to buy a 49% stake in the Serbian station Fox Televizija from News Corp for an undisclosed fee.

According to Blic, negotiations that led to the deal involved the Greek Prime Minister Georgios Papandreou and involved a meeting between Theodoros Kyriakou, the CEO of the Antenna Group, and Serbian President Boris Tadic, who gave a guarantee that Fox would not have a problem in obtaining a licence from the State Broadcasting Agency.

Some reports say that Antenna will acquire Fox Televizija, which has a market share of around 9%, for a nominal $1 (€0.7) and will take on all the station’s debts.

The deal will be in keeping with News Corp’s strategy of leaving the TV market in the CEE region.