Budapest, January 3 (MTI) – The Magyar Broadcasting Co has completed the acquisition of the commercial broadcaster TV2 group and submitted documents on its licence to the registry court, the company said on Sunday.
Magyar Broadcasting is owned by Andrew G Vajna, a Hollywood producer and businessman who is also the government’s film industry commissioner, and also serves as the company’s managing director.
The company told MTI in a statement that Vajna’s goal is to turn TV2 into a market leader channel targeting families.
It said it signed a contract with TV2 Media Group Holdings and CEE Broadcasting Holding to purchase a 100 percent stake in their businesses on October 15, in 2015.
The Hungarian competition office gave Magyar Broadcasting approval to acquire exclusive direct control over TV2 Media Group Holdings and CEE Broadcasting Holdings on October 30, the company said.
It said it completed the acquisition using equity and additional financing provided by a consortium of several banks.
The portfolio of TV2 includes the television channels TV2, Super TV2, FEM3 and PRO4.