MTG has upped its stake in Zoomin.TV from 51% to 100% after agreeing to buy out the digital video network’s founders Jan Riemens and Bram Bloemberg. MTG acquired the remaining 49% of Zoomin.TV from Adversa Media Groep, which is controlled by Riemens and Bloemberg, paying a cash consideration of €6.2 million and settling Adversa’s €11.3 […]
MTG has appointed two new members to its leadership team following its decision to split the business into two companies – MTG and Nordic Entertainment Group. Both appointments are for the new MTG, which after the split will comprise MTG’s current esports, online gaming and digital video content operations. Peter Nørrelund, who is currently executive […]
Nordic Entertainment Group – the renamed and soon-to-be split-off broadcasting arm of Modern Times Group (MTG) – has named its new management team under CEO Anders Jensen. The new team will be effective as of July 1, following the split between the new MTG, which will focus on eSports and digital video content under current […]
MTG’s decision to split the business in two will create greater focus and flexibility and enable more growth, higher profits and increased shareholder value, according to CEO Jørgen Madsen Lindemann. In a statement issued with MTG’s annual report, Lindemann said that transformation has always been part of the company’s DNA and the formation of its digital arm MTGx […]
Modern Times Group (MTG) is to split in two, with its European free and pay TV and studio activities folded into a separate company with its own stock market listing, leaving MTG itself to focus on eSports and digital video content. Nordic Entertainment Group will comprise MTG’s current Nordic Entertainment and MTG Studios units, as well […]
MTG has agreed to sell its 75% stake in youth broadcaster Trace in a deal that values 100% of the business at an enterprise value of €40 million (approximately SEK 392 million). MTG agreed to sell its majority stake in the media group to TPG Growth, a division of investment firm TPG that has more […]
MTG reported 83% profit growth for continuing operations in Q3, despite wider losses for its eSports operations. The Nordic company reported higher profits and margins for Nordic entertainment, international entertainment and MTG Studios. Meanwhile, its digital arm MTGx recorded lower losses on a sequential and year on year basis, thanks to the contribution from Innogames […]
Modern Times Group (MTG) has closed its US$55 million acquisition of US games publisher and developer Kongregate. MTG announced the deal a month ago and has now bought 100% of the San Francisco-based games company, which will be fully consolidated into MTG’s digital business MTGx from August 1. MTG has ben increasingly moving away from […]
Howard Stringer and Jeremy Fox tell TBI about Atrium, their new club for platforms that want to source their own high-end drama series. Howard Stringer is known, among other things, for running Sony, producing for CBS, and until recently, being a non-exec director of UK pubcaster the BBC. His new venture is a first-of-its-kind members […]
Modern Times Group has invested €82.6 million (US$90.2 million) to increase its shareholding in mobile and browser-based games company, InnoGames, from 21% to 51%. The agreement comes after MTG said in January that it would use the proceeds of the sale of its stake in Czech free-to-air broadcaster Prima to top-up its investment in InnoGames. […]
