News Corporation Acquires Local Radio Group
News Corporation, acting through its local subsidiary Balkan News Corporation, acquired a controlling interest in Radiocompany CJ, which operates or advises a number of radio stations in Bulgaria, including N-Joy, Z-Rock, Melody, Jazz FM and others.
The acquisition extends the existing foothold of News in other media markets (most notably free-to-air television through bTV the first national private FTA channel, and outdoor advertising) to radio.
The firm advised and supported News throughout the transaction process, including due diligence, transaction negotiations and structuring. The firm’s competition team obtained an unconditional merger clearance for the acquisition form the Bulgarian Commission for the Protection of Competition.
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