Bulking up in Bulgaria


Emmis Communications announced that it has acquired Inforadio, a national radio chain broadcasting in 13 Bulgarian cities. Inforadio is Emmis’ third national radio brand in Bulgaria; the company also operates Radio FM+ and Radio Fresh there. "This acquisition demonstrates our belief in the growth of the Bulgarian economy, especially since its accession to the European Union this year," said Paul Fiddick, president of Emmis International. The price was not disclosed, but Bear Stearns analyst Vic Miller estimated that it was “in the high-single/low-double-digit range of millions.”