March 26, 2018 / 3:54 PM / 4 months ago

Croatia's media watchdog approves sale of Nova TV

ZAGREB, March 26 (Reuters) - Croatia’s watchdog for electronic media said on Monday it had approved the sale of Nova TV to Slovenia Broadband, a unit of United Group, after it sold a local company.

“Now all legal conditions have been met for selling Nova TV to Slovenia Broadband,” the watchdog said in a statement.

A proposal by broadcaster Central European Media Enterprise (CME), whose main shareholder is Time Warner, was rejected last November due to a potentially excessive market concentration following the sale worth 230 million euros ($286 million).

In the meantime, United Group, majority-owned by U.S. investment firm KKR, sold Total TV which it owned in Croatia. ($1 = 0.8037 euros) (Reporting by Igor Ilic, editing by David Evans)

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