Clifford Chance advises Antenna TV on sale of Nova Televizia in Bulgaria

LawFuel – Law Firm Announcements – Clifford Chance LLP (CC) has advised long-standing client Antenna TV (Greece’s largest media company) on its EUR 620 million deal to sell its Bulgarian media operations including Nova Televizia Bulgaria (Nova) to Sweden’s Modern Times Group.

Nova is a leading national TV station in Bulgaria and broadcasts a wide range of content, including successful international formats such as ‘Big Brother’, ‘CSI’, ‘Prison Break’ and ‘Ugly Betty’.

The deal was led by Daniel Sandelson and Jonathan Simon in the Communications, Media and Technology team of CC’s London office. Jonathan Simon said: “This deal is one of the largest M&A transactions ever in Bulgaria and is an example of Antenna Group’s successful track record of investing in and developing market-leading media assets.”

The transaction continues a significant run of European media M&A transactions for the firm, including the acquisition of GCap Media plc by Global Radio, Permira’s acquisition of All3Media, and the acquisition of Endemol by Mediaset, Goldman Sachs and Cyrte Investments.

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