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Bulgaria ON AIR is a Bulgarian national television, established on 9 September 2011. It is firstly established under the brand Bulgaria ON AIR Media Group and consists of 3 television channels - the flagship Bulgaria ON AIR TV (formerly "MSAT" and "Mustang TV"), a business and economic-based Bloomberg TV Bulgaria (in partnership with Bloomberg Group and the local Varna-based channel Cherno More TV, two radio stations - Radio Bulgaria ON AIR and Alpha Radio, an inflight magazine - Bulgaria ON AIR Magazine. Later the group becomes part of Investor.BG EAD. which is known under the commercial brand "Investor Media Group".