Bulgaria’s Commission for Protection of Competition (CPC) has approved the acquisition of the TV channels Channel 3, The Voice and Magic TV, along with the radio stations Radio Vesselina; Radio Vitosha; Magic FM and The Voice Radio, by Nova Broadcasting Group.
In a statement, it says that it determined that the transaction will have an impact on the TV advertising, TV Distribution, internet (online) and radio advertising markets in the country.
It adds that “In its analysis, the CPC took into account the specific characteristics of the media sector. On the basis of the assessment made, the Commission considered that the concentration would not lead to the creation or strengthening of a dominant position which will impede effective competition in the above mentioned markets. Therefore, it could not rise anticompetitive effects in these markets and should be unconditionally approved under Art. 26, para. 1 of the Law on Protection of Competition (LPC)”.
Capital notes that the regulator made its decision in only two and a half weeks despite fears that the transaction would significantly increase the market share of the Domuschiev brothers, who own Nova, previously one of Modern Times Group’s assets in Central and Eastern Europe. It also acted in a similarly short timeframe in approving the acquisition of Nova by the Domuschiev brothers.