Advance Media Group completed the acquisition of a 95% interest in Nova Broadcasting Group from MTG.

Advance Media Group completed the acquisition of a 95% interest in Nova Broadcasting Group, Bulgaria’s largest commercial media group and comprises 7 TV channels, from MTG. The transaction values 100% of the business at an EV of €185m ($210m). Nova is not only Bulgaria’s largest commercial media group but also, complementary online businesses that reach on average 74% of the Bulgarian population every month. “This deal with Advance Media Group will ensure the continued development of Nova, which CEO Didier Stoessel and his team have grown into Bulgaria’s leading commercial media group.” Jørgen Madsen Lindemann, MTG President & CEO.