ECONOMY

Kyriakou eyeing media firms for spending spree

Greek millionaire Theodore Kyriakou intends to spend up to 1.8 billion euros to invest in media in the UK or other parts of Europe, according to a newspaper report. In comments to the Financial Times, Kyriakou said he will buy media companies but «probably not newspapers.» «I am not going to rule out anything,» he said. «But we are looking for businesses with growth potential and we are looking at the Internet, at production companies, at pay-television, at free-to-air television, at magazines, at pretty much everything and across Europe,» he was cited as saying. The funds would come from leveraging the proceeds of the sale of Nova, the Bulgarian assets of Antenna TV, for 628 million euros.