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CME buys Bulgaria's bTV

FNE Staff 2010-02-21
Central European Media Enterprises (CME) has negotiated a deal to buy Bulgarian channel bTV from News Corporation for $400 million.

CME (www.cetv-net.com) also acquires two cable stations (bTV Cinema and bTV Comedy) and a 74% share in Radio Company C.J. The deal should be concluded in the second quarter of 2010.

"The acquisition of bTV is the next step in repositioning CME after the sale of our Ukrainian operations," said Adrian Sarbu, the president and CEO of CME. "We are now focused on building a highly profitable vertically integrated media company operating in the EU and EU accession countries. bTV greatly complements our portfolio of broadcasting assets. I am confident that we will be able to bring Bulgarian viewers an enhanced TV offer and deliver significant value for our shareholders."