All the radio stations owned by Communicorp in Bulgaria have been sold to local operators.
According to a local report on EUScoop, Communicorp’s stations BG Radio, Radio Nova, NRJ, Radio 1, Radio 1 Rock, Radio Veronika and City FM/TV have changed hands, netting Communicorp 5.4 million EUR.
A new company, Fresh media Bulgaria, has been registered to take over the stations.
Adrian Serle, Group CEO of Communicorp Media said: “Communicorp Media is delighted to have sold its Bulgarian Radio Group to the local management team. We wish them every success with the business in the future and are confident of its continued success under their strong leadership.
“Despite the Bulgarian market, and the performance of the business, being very healthy over recent years, Communicorp decided to sell the business to focus on its core radio and digital opportunities across the UK and Ireland.”
Nikolai Yanchovichin, CEO of Fresh Media Bulgaria commented: “We are grateful to Communicorp for investing and supporting the radio business in Bulgaria for the past 13 years. It has been an incredible experience to work and learn from some of the best experts in European radio.”
Communicorp owns a number of radio stations across Europe, in Czech Republic, Estonia, Finland, Hungary, Jordan, Latvia and the United Kingdom.