June 6 (SeeNews) - Swiss-based United Media said it applied with the Serbian competition authority to acquire 100% of the busuness of Belgrade-headquartered Direct Media group in Serbia, Albania, Macedonia and Montenegro.
The transaction will also include free-to-air TV stations Pink BiH and Pink Crna Gora, United Media said in an e-mailed statement late on Tuesday.
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"Direct Media is a modern advertising agency that has a large number of clients in many countries in the region, excellent relations with TV stations and media and well-developed models of placement and monetisation of local production and attractive content. That is why we have recognised them as an excellent platform for launching the transformation of the television in the region through the application of new technologies that are now being introduced around the world," the CEO of United Media, Aleksandra Subotic, said.
After the transaction, Direct Media will continue the development of new technologies, innovative advertising models and the use of digital marketing, enabling the distribution of designed solutions through various platforms, United Media said in the statement.
"Direct Media is a regional leader in media and communications agencies for almost two decades, as well as an important partner in the production of television content. We are pleased that United Media has recognised the Direct Media values, and I believe that our association will be a key factor in transforming the region towards the future of television advertising in the new digital age," the chairman of Direct Media, Krassimir Guergov, said.
United Media offers a combination of pay TV channels in Southeast Europe (SEE), available for cable, DTH, OTT and IPTV distribution.