The Croatian retail chain Pevex has sold the TV station Z1 Televizija to Kodiak Trade for an undisclosed fee.
Quoting a statement by Pevex, Poslovni reports that the reasons for the sale are blows to the economy and the need to focus on its core business.
It adds that although Pevez acquired Z1 Televizija in May 2017, it was already negotiating a sale at the end of 2018.
Kodiak Trade was established in mid-October 2017. It is based in Zagreb and headed by its founder Hrvoje Milas.
Z1 Televizija has been operating since 2003, when it received a licence from Croatia’s Electronic Media Council.
It is distributed terrestrially in the greater Zagreb area, as well as on all digital platforms and FTA via satellite to a potential 1 million viewers a day.