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CME receives Bulgarian deal approval

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  • sharif143
    Experienced Member
    • Jan 2010
    • 495

    CME receives Bulgarian deal approval

    CME receives Bulgarian deal approval

    By Chris Dziadul

    April 9, 2010 08.13 UK

    The Bulgarian Commission on Protection of Competition (CPC) has given the green light to CME’s purchase of the country’s leading station bTV from News Corp.

    Under the terms of the deal, first announced on February 18, CME has agreed to pay $400 million (€300.1 million) in cash for News Corp’s assets in Bulgaria, which besides bTV include the cable-delivered thematic channels bTV Cinema and bTV Comedy and 74% of Radio Company C.J. OOD.

    The decision follows shortly on from the closure of a deal in which CME disposed of its assets in Ukraine. The funds from this will be used to fund the acquisition of bTV.