The Bulgarian TV station Channel 3 has found itself under new ownership from the start of this week.
According to Capital, it is now backed by Media Investment Organisation (MIO), which has paid BNG1 million (€509,000) for the company.
Channel 3 was formerly owned by Elite Media Bulgaria, in which the partners were Velichko Naydenov and Nikolay Vochev.
It posted revenues of BNG2.2 million in 2012, or 0.5% more than a year earlier, while its profits amounted to BNG187,000.
MIO was itself founded this April, though negotiations about the sale of Channel 3 had been going on since November last year.
Channel 3, which offers mostly live, news-based programming, has been on air since 1993.
