Nice M&A exec shifts to MTG

Peter Holmström has stepped into the acting COO role at the Modern Times Group’s African operations, TBI has learned.

Holmström moves to MTG Africa from Sweden-based Nice Entertainment Group, the production group that MTG acquired last year. In his new role, he reports to MTG Africa executive VP, Joseph Hundah.

Sweden-listed channel operator MTG confirmed Holmström had moved to MTG Africa, noting he was filling the role on a temporary basis. It is not immediately clear whether he will return to Nice after the position is filled or remain with MTG Africa.

Holmström was chief strategy officer and head of M&A at Nice and its predecessor MTG Studios. Prior to that he was COO at MTG Studios and Strix.

The COO role at MTG Africa is vacant following the departure of Rune Skogeng who was named vice president of business development in the Nordics and Benelux at audience measurement specialist TVbeat earlier this year.

MTG has been expanding rapidly in Africa in recent times, notably with the acquisition of channels group Trace, which has a foothold in the region.

MTG also launched free-to-air channel TV1 in Tanzania earlier this year. That was its second free-to-air channel in Africa and it also has several of its pay offering distributed in the region.