Television channel Alpha has been bought by members of the Papaellinas family, which also owns the Alfa Mega supermarket chain, for €7m, it was announced on Wednesday.
A statement issued by Alpha Cyprus said an initial agreement has been made for the acquisition of all the company’s shares by members of the Papaellinas family, which also owns the Papaellinas Group.
The agreement is subject to the approval of the island’s broadcasting watchdog.
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