MTG completes sale of Nova to Advance Media Group
MTG has completed the sale of its 95 percent shareholding in Nova Broadcasting Group (“Nova”) in Bulgaria to Advance Media Group. The all-cash transaction valued 100 percent of Nova at an enterprise value of EUR 185 million (approximately SEK 1,917 million). MTG will use the proceeds to further develop its global digital entertainment verticals through organic investments and acquisitions.Nova is Bulgaria’s largest commercial media group and comprises 7 TV channels, as well as complementary online businesses that reach on average 74 percent of the Bulgarian population every month.