• Subscribe
  • Advertise
    • Media Info
    • Terms & Conditions for Advertisers
    • Mechanical Data

Broadband TV News

Independent. Since 2003

  • Home
  • News Line
    • Central & East Europe
    • People
  • TV
    • On Demand/VOD
    • IPTV
    • Cable
    • Satellite
    • Terrestrial
    • Distribution
  • Business
  • Tech
  • Columns
    • Chris Dziadul
    • Julian Clover
    • Robert Briel
  • Events
    • Events Diary
    • BTN Events
    • Events Coverage
    • Submit the details of your event
  • Features
  • Resources
    • White Papers

MTG terminates Nova sale agreement

January 7, 2019 23.42 Europe/London By Chris Dziadul

Modern Times Group (MTG) has terminated an agreement to sell its stake in Bulgaria’s Nova Broadcasting Group to the Czech-owned PPF Group.

Instead, it says it has entered into discussions with other interested parties to sell its shareholding in what is one of the two main commercial media groups in the country.

MTG adds that the termination of the agreement follows the decision by the Bulgarian Commission for the Protection of Competition (CPC) to disallow the sale, as well as the expiration of an extended long-stop date under the sale and purchase agreement.

MTG also says it has secured a SEK1 billion (€97.65 million) credit facility from Nordea which will provide it with additional funding after the spin-off and listing of Nordic Entertainment Group (NENT Group) in Q1 this year.

MTG is now expected to split into two companies – MTG and NENT Group – in March, with Nova remaining part of MTG until its sale is completed.

Commenting on these developments, Jørgen Madsen Lindemann, MTG president and CEO, said: “The new credit facility will provide us with additional flexibility to continue to invest organically and via M&A, in order to develop our global digital entertainment verticals after the listing of NENT Group. The divestment of Nova is also part of this strategy and we look forward to the discussions with the new potential buyers about the future of this well-established, well-placed and well-managed business.”

  • Click to share on Facebook (Opens in new window)
  • Click to share on Twitter (Opens in new window)
  • Click to share on LinkedIn (Opens in new window)
  • Click to share on WhatsApp (Opens in new window)

Related

Filed Under: Central & East Europe, Newsline Tagged With: Bulgaria, MTG, Nova Broadcasting Group, PPF Group Edited: 7 January 2019 23:42

About Chris Dziadul

Chris is our Central & East Europe Editor. You can talk to Chris on Twitter @chrisdziadul or by email at cdziadul@broadbandtvnews.com

Latest News

  • Turkey blocks Deutsche Welle and VoA
  • Canal+ Austria added to Apple TV
  • Redge Technologies extends TVN Warner Bros. Discovery contract
  • Polish pay-TV: new statistics
  • Countdown to Canal+ Sport launch

Watch Video

Amino supporting RDK & Android platforms – ANGA COM Roundup Video

Julian Clover speaks to Amino's Jonny McKee about the company's transition towards standards platforms to support the launch of OTT services. Recorded at ANGA COM in Cologne. … [Watch Now ...]

EKT backing RDK – ANGA COM Roundup Video

Jill Mulder, VP Marketing, EKT discusses how viewing habits and the role of the operator is changing and why EKT now backing RDK, with Broadband TV News editor Julian Clover. … [Watch Now ...]

Free Ebook

eBook: Overcoming the Top 5 Challenges in Server-side IP Ad insertion

IP video is a game-changer for advertising. However, unlike traditional television, IP video is more dynamic, with new devices, formats, content and services to consider. … [Download the eBook...]

Broadband TV News

  • Subscribe
  • About us
  • Contacts
  • Logos & Pictures
  • Privacy Policy
  • Terms and Conditions

Advertising

  • Media Info
  • Terms & Conditions
  • Mechanical Data
  • Video Services

News

  • Latest
  • Central & East Europe
  • TV
  • Tech
  • Streaming
  • Cable
  • Satellite
  • Terrestrial
  • IPTV
  • Business
  • People

Events

  • Events Diary
  • BTN Events
  • Submit the details of your event
  • Media Meet & Greet

Broadband TV News

PO Box 499
Cambridge
United Kingdom
CB1 0AH
news@broadbandtvnews.com

Connect with Us

 

Copyright © 2022 Broadband TV News LLP · Log in

 

Loading Comments...