Modern Times Group (MTG) has completed the acquisition of a 50% stake in Balkan Media Group Limited (BMGL). The €11.6 million deal, which was first announced a month ago, will see the Swedish company gain a foothold in Bulgaria through the joint ownership of Diema Vision and Television MM, which together operate a total of six TV channels. It will also now have a presence in Macedonia through the Albanian language station TV Era. MTG has recently been expanding its operations in Central and Eastern Europe, having acquired stakes in Prima TV (Czech Republic), Prva TV (Slovenia) and now BMGL in little over a year.
