Discovery Romania has agreed to buy Turner Broadcasting System Romania from its majority owners.
According to Economica.net, both TBS Holdings and TBS Europe will sell their entire stakes ie. 5% and 95% respectively in the company.
It adds that Turner Broadcasting System opened a branch in Romania in 2008 and last year its revenues fell by 12.6% to RON2.88 million (€583,000). It also had a loss of RON50,671, or 45% less than in 2021.
Meanwhile, Discovery Romania was established in 2006 and is owned by Discovery Poland.
Its revenue and profit in 2022 amounted to RON56 million and RON6.5 million respectively.
No financial details of the transaction have been disclosed.
