News Corp. selling Bulgarian TV channel bTV for $400M to Central European Media Enterprises

News Corp. to get $400M for Bulgarian TV channel

SAN FRANCISCO — Media conglomerate News Corp. said Thursday that it agreed to sell its Bulgarian TV channel, bTV, to Central European Media Enterprises for $400 million in cash.

Central European Media, also known as CME, had sold off its Ukrainian operations and President and CEO Adrian Sarbu, President said the deal will allow it to build a vertically integrated media company.

In addition to bTV, CME — which operates TV channels in Central and Eastern Europe — will get News Corp.’s bTV Comedy and bTV Cinema channels. It will also get News Corp.’s 74 percent stake in Radio Company CJ, News Corp. said.

News Corp. shares rose 10 cents to $13.55. CME shares fell 2 cents to $28.46