Merger of Eastern European Broadcasting Interests
06 Agosto 2009 - 1:00AM
UK Regulatory
TIDMAPA
RNS Number : 9638W
Apace Media PLC
06 August 2009
Apace Media PLC
6 August 2009
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Apace Media plc ("Apace")
6 August 2009
MERGER OF EASTERN EUROPEAN BROADCASTING INTERESTS
On 2 March 2009, Apace and Modern Times Group MTG AB (MTG) signed an agreement
to merge Balkan Media Group Limited (BMGL) with Nova Televizia (Nova), the
number two terrestrial broadcaster in Bulgaria.
On 5 August 2009, the first stage of the merger process was completed whereby
BMGL sold its Bulgarian broadcasting subsidiary, Diema Vision EAD, to Nova in
exchange for 10% of the enlarged share capital of Nova. Debt of about EUR1m owed
by Diema to Apace has been repaid.
Further information about BMGL was given in the announcement made on 3 March
2009.
Enquiries:
Apace Media Plc:
Robert Burke/ Martin Johnston/ Didier Stoessel +44 207 471 9393
Seymour Pierce:
Richard Feigen /John Depasquale +44 207 107 8000
This information is provided by RNS
The company news service from the London Stock Exchange
END
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