CME buys News Corp.'s Bulgarian networks

TV and radio assets acquired in deal worth $400 million

BERLIN -- Broadcaster Central European Media Enterprises (CME) has acquired News Corporation's Bulgarian TV and radio assets for $400 million.

The deal, announced Thursday, includes free-TV channel BTV, pay networks BTV Cinema and BTV Comedy cable and 74% of radio group CJ OOD. Pending regulatory approval, the agreement is expected to go through in the second quarter of 2009.

CME recently divested its Ukrainian channels Studio 1+1 and Kino, selling it to Ukrainian businessman to Igor Kolomoisky for $300 million.

CME, one of Europe's largest media groups, controls television and radio channels across central and Eastern Europe.