United Group has reached an agreement to acquire Bulgaria's largest multi-platform media company, Nova Broadcasting Group, from Advance Media Group for an undisclosed sum. This extends United's strategy to bring together telecom operators and broadcasters in its southeast Europe footprint. United acquired earlier this year Vivacom, the largest integrated telecom operator in Bulgaria.
Nova comprises ten television channels, including national channel Nova TV, as well as the country’s largest online platform Net Info reaching on average 80 percent of the Bulgarian population every month and four radio stations. Locally-owned Advance Media acquired Nova from Sweden's Modern Times Group in 2019.
The investment marks the fourth large-scale transaction since BC Partners acquired United Group in March 2019. Operating in both the telecommunications and media sectors, the United Group platform combines operators and content producers in Southeast Europe. The company has approximately 10 million users and 11,000 employees.
