Liberty Media’s Chellomedia has acquired a 40 per cent stake in Bosnian free-to-air broadcaster OBN. It said that acquiring the stake in the Bosnian market would enable it to create a hub for the launch of pay channels later as infrastructure in the country developed, as well as positioning it to benefit from growth in the local advertising market.
“This move is consistent with our plan to operate in markets that demonstrate stability and economic growth. OBN has a strong entrepreneurial track record and we look forward to working with the company. Bosnia is a highly attractive market, with good growth potential, and the investment is in line with Chellomedia’s acquisition strategy,” said Mike Moriarty, managing director of Chellomedia Central Europe.
Privately held OBN shows a mix of entertainment and sports programming and has a 25 per cent audience share and a 25 per cent share of the local ad market. It can reach 82 per cent of Bosnia and Herzegovina’s population.
The investment in OBN will form part of Chello Central Europe’s operations. The division has a portfolio of 13 channels including Minimax, Sport1 and Spektrum as well as advertising sales business At Media.