MTG eyes further acquisitions following CEE deal

Pan European broadcaster Modern Times Group is looking to make more acquisitions and strike more deals with producers following its purchase of Central and Eastern European producer Paprika Latino. 

The broadcaster, which operates 29 free-to-air channels in 11 countries and 38 pay TV networks in 34 countries as well as producer Strix, bought 53% of the Fish On The Cake producer earlier this week and will rebrand it as MTG Studios. 

Patrick Svensk, chairman and chief executive, MTG Studios and executive vice president, content, Modern Times Group, told TBI that it is actively looking for more deals. “We want to grow through acquisition and start ups. We need to look at highly creative markets like the US and UK,” he said. “There’s no timeline but acquisitions will be small to medium and potentially large but not extra large.”

Svensk was part of the most recent wave of consolidation of European independent production companies during his time at Zodiak Entertainment and believes that the next stage will be funding producers to set up their own firms. “In order to grow we need to secure the best ideas and the best people,” he added.