Telekom Slovenije Group has signed an agreement to sell Planet TV to Hungary’s TV2 Media for €5 million. The deal should be completed by the end of September.

For some time, the Slovenian telecommunications group has been dealing with the question what to do with its TV subsidiary, which manages the TV channel of the same name.

The initial idea was to recapitalize Planet TV with a new strategic partner, but in recent months the option of selling the company was added as an option.

Telekom Slovenije Group became the sole owner of Planet TV (formerly Antenna TV) in December 2019, after buying Antenna Slovenia’s 34 per cent stake.

According to local media reports, Telekom Slovenije Group invested an estimated €80 million in Planet TV in the form of capital, paid advertisements, loans and other services.

Croatian businessman Ivan Čaleta was allegedly also in the running to buy Planet TV.

Antenna TV started broadcasting in September 2012, initially only football matches of the UEFA Champions League.

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Categories: Articles, Broadcast, Business, M&A

Tags: Hungary, Planet TV, Telekom Slovenije, TV2