Modern Times Group (MTG) has completed the acquisition of a 75% stake in Trace Partners SAS following regulatory approval by the French media authorities.
Under the terms of the deal, which was first announced in February, Trace’s management will own the remaining 25% of the company and its co-founder Olivier Laouchez will continue as the chairman and CEO.
MTG will consolidate Trace into its accounts for July 1 and report it within the Pay-TV Emerging Markets business segment.
Trace is a global youth media brand and pay-TV channel operator with distribution agreements in 160 countries worldwide, including all 55 countries in Africa.
The stake acquired by MTG was formerly held by Citizen Capital, Entrepreneur Venture, NextStage and company management, with the cash deal valuing Trace at €40 million.
