Bulgaria: Domuschievi Brothers Sold NOVA TV to Vivacom Owner – United Group

United Group, a leading provider of telecommunications services in Southeastern Europe, officially announced that an agreement has been reached for the purchase of the largest Bulgarian multiplatform media company Nova Broadcasting Group from Advance Media Group. The deal is expected to be closed in early 2021 once all necessary regulatory approvals are obtained.

The portfolio of Nova Broadcasting Group comprises 10 TV channels, including the national Nova TV, four radio stations and the largest Bulgarian online platform "Netinfo", which reaches 80% of the population of Bulgaria every month.

Victoria Bocklag, CEO of United Group, said: "We are extremely pleased with the agreement reached. We buy a successful company from two respected entrepreneurs, which has great growth potential as part of United Group. The purchase is in line with United Group's overall strategy to develop simultaneously as a telecommunications and media operator in all markets where we are present.

Nova Broadcasting Group complements the group's existing media channels and I am convinced that we will achieve very good synergy between them all, which will give us an even greater opportunity to invest in local content and reach the audience quickly and qualitatively" "This deal is a great success and a great opportunity for NOVA, its viewers and customers.

I would like to thank everyone who helped us develop the leading trade media group in Bulgaria. The deal with United Group will ensure the continuous development of NOVA", according to the CEO of Advance Media Group Georgi Domuschiev.

The investment is the fourth major deal in a row since BC Partners acquired United Group in March 2019. United Group's platform combines leading telecommunications operators...