Advised Communicorp Group in the divestment of their Bulgarian assets

Go Back Contact Us

Client: Communicorp Group

Communicorp Group Ltd. is a leading European media and a radio broadcasting corporation with headquarters in Dublin, Ireland
Communicorp UK is the newest and fourth largest radio group in the UK, maintaining some of the largest independent radio networks
Communicorp owns and operates a portfolio of media channels with a strong focus on commercial radio and emerging digital media
It has reported revenues of €47.4m in 2017

Local management of the company has been within the radio group since late 1990s (with executive positions post Communicorp Group’s acquisition in 2004)

Following a strategic review, Communicorp Group has decided to realign its portfolio within the CEE countries. As part of this, Communicorp decided to divest its radio business in Bulgaria, after the recent exiting from several other markets in the past years
Communicorp operated the largest radio group in Bulgaria with more than 30% audience market share, supported by a comprehensive portfolio of 7 leading music-oriented radio stations targeting diverse audiences, among Bulgaria’s most listened stations weekly reaching over 2.1m people or 40% on a national level
The local management team has been within the company since late 1990s and had ambition to materialize the business full potential

Entrea Capital has been retained as an exclusive sell side advisor and provided the following value-added services to Communicorp Group:

Managed the entire sell side process
Prepared comprehensive marketing materials (financial model, business plan, investment memorandum)
Identified and established contact with a wide group of potential strategic and financial buyers
Attracted interest from several European and regional investors
Provided expert advice during the due diligence and negotiations process