United Group, the Balkan telco and media company, in talks to acquire Bulgaria’s leading media company Nova Broadcasting Group.
The announcement of talks were made by United Group owner BC Partners, with the private equity firm confirming that it was in the midst of discussions with Nova owner Advance Media Group.
A potential deal comes at the end of a year in which United Group also acquired Bulgaria’s leading telco Vivacom for a reported €1.2 billion. Potential terms have not been disclosed for Nova – which owns ten TV channels, four radio stations and the country’s largest online platform – but local outlets have said a deal could be worth between €250-300 million.
A statement from United Group said: “A potential deal is dependent on the successful completion of negotiations between the parties, as well as on the conclusion of a binding sales and purchase agreement between them.”
Nova has been owned by Advanced Media Group since 2019, when the company led by Bulgarian businessmen and brothers Kiril Domuschiev and Georgi Domuschiev, bought the broadcaster from Swedish MTG for €185 million. The company has not shown an urgency to sell, and in October bought three local TV channels and four radio stations.
