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United Group, a leading provider of telecommunications services in Southeastern Europe, officially announced that an agreement has been reached for the acquisition of Bulgaria’s largest multi-platform media company, Nova Broadcasting Group, by Advance Media Group.
The deal is expected to be completed in early 2021, once all the necessary regulatory approvals have been received.
Nova Broadcasting Group’s portfolio consists of 10 television channels, including national Nova TV, the largest online platform in Bulgaria, Netinfo, which reaches 80% of Bulgaria’s population every month, and four radio stations.
Victoria Boklag, Executive Director of United Group, said: “We are very satisfied with the agreement reached. We are buying a successful company of two renowned entrepreneurs, which has great growth potential as part of United Group. The purchase is in line with United Group’s overall strategy to develop as a telecommunications and media operator in all the markets we are present in. Nova Broadcasting Group complements the group’s existing media channels and I am convinced that we will achieve a very good synergy between all of them. which will give us an even greater opportunity to invest in local content and reach audiences quickly and efficiently.
“This agreement 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 commercial media group in Bulgaria. The agreement with United Group will ensure further development of NOVA “said Advance Media Group CEO Georgi Domuschiev.
The investment is the fourth major deal since BC Partners acquired United Group in March 2019. United Group’s platform combines leading telecom operators with the best content producers from Southeast European countries as part of the development strategy simultaneous in the telecommunications and media sectors. The company has more than 10 million customers and 11,000 employees.
For United Group:
United Group, owner of VIVACOM, is a leading telecommunications and media operator in Southeast Europe, based in Amsterdam. Through significant investments in digital infrastructure, content and technology, the group provides leading services to clients in the region. In the two decades since its founding, the United Group has successfully acquired and integrated more than 100 companies into its structure. It has the widest network coverage in the region and offers users the most attractive selection of TV content from around the world. United Group operates in 8 countries and since March 2019 is owned by BC Partners, one of the largest investment companies in the world. For more information visit https://united.group/
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