Sweden-based entertainment conglomerate Modern Times Group, MTG, announced on Monday that it is to sell 95 % of the shares in Bulgaria’s Nova Broadcasting to PFF, a firm owned by Czech billionaire Petr Kellner, for 185 million euros. Nova Broadcasting is Bulgaria’s largest commercial media group and comprises seven TV channels and 19 websites, including the leading Nova TV channel, Kino Nova, Nova Sport, Diema and Diema Sport amongst others.