SBS Broadcasting Adds Radio Express Network in Bulgaria
Luxembourg, November 6 (ots/PRNewswire)
SBS Broadcasting Sàrl announced today that it has completed the acquisition of the Radio Express network in Bulgaria. The Radio Express network covers most of Bulgaria, including the two largest cities of Sofia and Plovdiv. The Radio Express network adds nine new cities to SBS's existing Bulgarian radio operations. The terms of the acquisition are confidential.
Earlier this year, SBS acquired the national radio networks Vitosha and Veselina as well as Radio Atlantic in Sofia and Radio Ritmo in Plovdiv. With the acquisition of the Radio Express network SBS covers all of Bulgaria's major cities with one or more radio stations.
Commenting on the announcement, Patrick Tillieux, SBS's Chief Operating Officer and acting Chief Executive Officer said: "With the acquisition of Radio Express network, SBS has become one of the leading radio operators in Bulgaria. Along with Radio Vitosha, Radio Veselina, Radio Atlantic and Ritmo, the addition of the Radio Express network will enhance the growth and listenership of our Bulgarian radio operations and enables SBS to fully participate in the dynamic Bulgarian media market as we continue to focus on expanding our broadcasting businesses in fast-growing South Eastern Europe."
SBS currently operates in several growing markets of South Eastern Europe. In addition to the above mentioned radio operations in Bulgaria, SBS owns Prima TV, the leading music TV channel TV K Lumea, as well as the leading radio network Kiss FM and the Magic FM network in Romania. SBS also owns the number one radio station Lampsi FM in Athens, Greece.
About SBS Broadcasting Group
SBS Broadcasting Group is one Europe's leading broadcasting groups, with leading commercial television, premium pay channels, radio stations and related print businesses in Western and Central and Eastern Europe. SBS currently has broadcasting operations in Belgium (Flanders), Bulgaria, Denmark, Finland, Greece, Hungary, The Netherlands, Norway, Romania, Sweden and the United Kingdom. SBS is controlled by funds advised by two leading private equity firms, Permira and KKR. Telegraaf Media Groep N.V. (TMG) of the Netherlands is also a shareholder in SBS, with a 20% equity interest. www.sbsbroadcasting.com
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