SBS BROADCASTING ACQUIRES VESSELINA RADIO
Sooner than ten days after the multinational SBS Broadcasting announced it was buying the Vitosha radio chain, the Sofia Atlantic station and Radio Ritmo in Plovdiv, the Council for Electronic Media approved another deal involving the foreign company. The council permitted the Communications Regulation Commission (CRC) to transfer to SBS Broadcasting 100% of the shares of Radio Vesselina AD. According to the Telecommunications Act, CRC is the body that approves transfers of stakes or shares in the capital or acceptance of new partners in commercial companies - licensed public operators, which result in changes in the company's management control.
The transfer was requested by the Vesselina Executive Director, Vesselina Kanaleva. The company owns radio licences for Sofia, Plovdiv, Stara Zagora, Smolyan, Haskovo, Yambol and Bourgas. It also has a cable TV channel of the same name but it's not clear whether or not it is part of the deal.
The acquisition of Vesselina is SBS Broadcasting's second investment in Bulgaria. In Romania, the company owns and runs the Kiss FM radio network and Prima TV. In Greece, it operates Lampsi FM which is Athens's most popular radio. Among the other countries in which the company is present are Belgium, Denmark, Finland, Hungary, the Netherlands, Norway and Sweden. The group is controlled by funds consulted by two private equity companies - Permira and KKR. The Dutch Telegraaf Media Groep N.V. (TMG) holds another 20% stake in its capital.