UPDATE: United Group buys Bulgaria’s Nova Broadcasting Group

Balkan telecoms and media company United Group, majority owned by private equity firm BC Partners said on Friday it has closed a deal to acquire Nova Broadcasting Group, the largest multi-platform media firm in Bulgaria.

United Group did not disclose a price for Nova, which owns 10 television channels, including national NOVA TV and the country’s largest online platform, Net Info. Local media has estimated the deal at about 300 million euros ($364.77 million).

United Group, which acquired Bulgaria’s leading telecoms operator Vivacom last year, sealed the purchase of Nova from Advance Media Group after receiving an approval by Bulgaria’s anti-monopoly regulator.

Source: Reuters