MTG said it was looking to third party distribution sales that were helping to compensate for what Jørgen Madsen Lindemann, President & Chief Executive Officer described as a “structural decline” in satellite and DTV.
Lars Torstensson to take up position as MTG EVP, Head of Communications & Investor Relations from 19 June 2019.
Modern Times Group (MTG) has terminated an agreement to sell its stake in Bulgaria’s Nova Broadcasting Group to the Czech-owned PPF Group.
Following the completion of Kinnevik AB’s distribution of its entire shareholding in MTG to its shareholders in August,
Bulgaria’s Commission for the Protection of Competition (CPC) has prohibited the sale of Nova Broadcasting Group and its subsidiaries Net Info and Agency Eva by Modern Times Group (MTG) to PPF Group.
MTG has recorded increased profits of 12%, despite costs relating to its failed merger with TDC, and ongoing separation.
Nordic Entertainment Group (NENT Group) will operate as a separate organisation from July 1, prior to its proposed listing on Nasdaq Stockholm later in the year.
MTG has increased its ownership in Zoom.in Group BV (Zoomin.TV) from 51% to 100% by acquiring the remaining 49% of the company from Adversa Media Groep BV.
Modern Times Group (MTG) has completed the sale of its 75% stake in Trace to TPG Growth for €30 million, or approximately SEK313 million, in cash.
Ahead of the spin-off of its Nordic Entertainment Group, MTG has reported record sales of SEK 4,674 million, the seventh consecutive Q1 where there has been organic growth of 5%.