Lauder buys two Bulgarian TV channels

Published: 29-Jul-2008

Central European Media Enterprises (CME), part of Estée Lauder has purchased 80% of two Bulgarian cable TV channels, Sofia News Agency reports. The company is to buy TV2, a national cable network, and sports cable channel Ring TV from Top Tone Media Holdings Limited in a $172m deal, which is expected to be finalised in two weeks.


Central European Media Enterprises (CME), part of Estée Lauder has purchased 80% of two Bulgarian cable TV channels, Sofia News Agency reports. The company is to buy TV2, a national cable network, and sports cable channel Ring TV from Top Tone Media Holdings Limited in a $172m deal, which is expected to be finalised in two weeks.

CME is also due to sign a contract with Bulgarian media and advertising consultant Krasimir Gergovm, alleged to be the informal owner of both TV2 and Ring TV.

“This acquisition is an important next step in the continuing expansion of our free-to-air broadcasting operations in central and eastern Europe. Our entrance into the Bulgarian market represents the first new CME territory in three years,” Michael Garin, ceo of CME, is quoted as saying. “We look forward to entering Bulgaria, which has a dynamic economy and a rapidly growing television and advertising market.”

TV2 and Ring TV will join 16 other CME-owned European TV channels, from countries including Croatia, Czech Republic, Romania, Slovakia, Slovenia and Ukraine, concludes the report.

See more

You may also like

You need to be a subscriber to read this article.
Click here to find out more.
Retail

Meet BeautyShelf: the beauty app making the Girl’s Group Chat shoppable

Read more
Meet the best friends-turned-co-founders setting out to give the group chat a shoppable glow up that has already partnered with Space NK and Sephora

Trending Articles

  1. Seen snaps up former Ulta Beauty boss as Chief Marketing Officer Linh Peters previously served as Head of Loyalty Marketing and Strategy at Ulta Beauty, overseeing the US beauty retailer’s loyalty programme and personalisation engine
  2. L'Oréal, LVMH and Luxottica named preferred buyers of Giorgio Armani empire The late Italian fashion designer has given purchasing priority to L'Oréal, along with LVMH, owned by the world’s richest man, Arnault Bernard, and eyewear brand Luxottica
  3. Glossier names Colin Walsh CEO as it aims to become ‘a true legacy brand’ Walsh, who has previously helmed the beauty divisions of Ouai and Procter & Gamble, will join the beauty company in October
  4. You need to be a subscriber to read this article.
    Click here to find out more.
    Maison Francis Kurkdjian turns heads with new $28,000 bottle of Baccarat Rouge 540 The fragrance giant has shocked consumers with its latest launch. Only 54 bottles of new Baccarat Rouge 540 Édition Millésime will be created each year, housed in a red crystal bottle with a 24-carat gold cap
  5. La Roche-Posay lands Law Roach for punny partnership marking 50th anniversary The L’Oréal-owned skin care brand has brought in the celebrity stylist alongside a cast of experts and creators for its ‘Brand Name’ Campaign in an attempt to connect with younger generations

Upcoming event

13th Annual Beauty Trends & Innovations Conference

24 September 2025 | London, UK See all

You may also like

You need to be a subscriber to read this article.
Click here to find out more.
Retail

Meet BeautyShelf: the beauty app making the Girl’s Group Chat shoppable

Meet the best friends-turned-co-founders setting out to give the group chat a shoppable glow up that has already partnered with Space NK and Sephora
Finance

Tropic Skincare founder Susie Ma lands £20 million payout after Lord Alan Sugar buyback

The payout came amid a bumper year of trading for the skin care business in 2024, as revenues and pre-tax profits both saw significant gains
Finance

Natura & Co inks deal to sell Avon business in Central America

Brazilian beauty conglomerate Natura & Co has agreed to offload its Avon business in Guatemala, Nicaragua, Panama, Honduras, El Salvador, and the Dominican Republic to Grupo PDC
You need to be a subscriber to read this article.
Click here to find out more.
Ingredients

What is fenugreek?

Vincent Miralles discusses fenugreek’s potential in sustainable polymers for next-generation hair care
Finance

Kolmar Korea launches full operation of 2nd US factory, establishing K-beauty’s ‘tariff safe zone’ in America

New 17,805㎡ facility completed in Pennsylvania with an annual production capacity of 300 million units
You need to be a subscriber to read this article.
Click here to find out more.
Ingredients

Vichy’s longevity science play addresses hair loss and zombie cells

Hair renewing serum Dercos Aminexil Clinical R.E.G.E.N. Booster, and Neovadiol Longevity Revolumizing Cream for boomers, are the L’Oréal-owned dermatological brand’s first longevity-focused launches, and more are in the pipeline
You need to be a subscriber to read this article.
Click here to find out more.
Colour Cosmetics

Career advice: How I became Brand General Manager at NARS UK

In partnership with CEW UK, Rachel Leon-Wardrop reveals how she became Brand General Manager at the Shiseido-owned make-up giant, and the skills and knowledge needed to manage the role successfully
Subscribe now